Thanks to a donation from Blue Ridge Capital President and Board of Visitors member John Griffin, a 1985 Commerce School graduate, 107 members of the Class of 2018 became recipients of the Blue Ridge Scholarship, a full scholarship for high-achieving, low-income students. In its inaugural year, the scholarship has helped academically gifted and financially deserving first years offset the costs of attending the University.
The scholarship was funded through a challenge grant, in which Griffin’s total donation to the University was contingent on the assumption that other donors would match his contributions. University spokesperson McGregor McCance said University alumni aptly met this challenge.
“[Griffin] pledged $1 million [dollars] for the Class of 2018 scholarships and $3 million for an endowment supporting the program, both conditional among matches,” McCance said in an email. “In just nine months, donors have exceeded the required challenge on both of these.”
The program allows students who may have not otherwise been able to enroll at the University attend at a more reasonable price. The scholarship aids its recipients for all four years, contingent on good academic standing.
McCance said the scholarship has helped to bring in a more diverse student body.
“The scholarship program underscores U.Va.’s commitment to meet 100 percent of a student’s need, regardless of their ability to pay,” McCance said. “The University believes that the scholarship program has contributed to its ability to enroll one of the strongest academically, and most diverse classes in University history.”
In the wake of one the country’s worst economic downturns in history, financial need among the student body has increased.
“The percentage of undergraduate students with demonstrated financial need has increased from 24 percent to 33 percent in the last decade,” McCance said.
Scholarship recipients are chosen based on criteria set by the Admissions Office and Student Financial Services and do not have to apply. The numbers are not set as to how many students will receive the scholarship for next year’s incoming class.
The Blue Ridge Scholarship is completely donor funded. McCance said this signals an increased support among donors to fund philanthropic causes which benefit students.
“The University is grateful for gifts in support of financial aid to bring talented students here,” McCance said. “The University has also placed a high priority on growing philanthropic support for financial aid, which can come in the form of scholarships, unrestricted grants and other forms. The support for such need is significant and growing.”
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