Editor's Correspondence: User's Written Communication
Holy Cross Endowment Supports College's Mission and Commitment to Accessibility
The College of the Holy Cross endowment plays a crucial role in supporting the institution's mission and commitment to accessibility and academic excellence. The endowment, managed by Assistant Treasurer and AVP, Investments and Institutional Resources, Daniel P. Ricciardi '06, is a significant financial resource that helps fund priorities such as hiring faculty members, supporting student scholarships, and funding academic programs.
Clarifying the Endowment through the Ignite Site
To demystify the endowment and support the ongoing conversation about it, the College has created an Ignite site. This platform offers FAQs, explanations of terms, and a video of a town hall with investment partners. The featured image on the Investments site is courtesy of the College of the Holy Cross.
Expanding Financial Aid and Academic Programs
The endowment has enabled significant expansion of financial aid and academic programs at Holy Cross. For instance, in 2024, the college announced a new full-tuition grant program for students from families with incomes of $100,000 or less and reasonable assets. This expansion built upon previous aid that covered full tuition for families earning $75,000 or less. This demonstrates how endowment income helps make Holy Cross more affordable and accessible to diverse students.
While specific academic program funding from the endowment at Holy Cross is not detailed, endowment earnings typically support academic initiatives, faculty research, and special programs. Holy Cross ranks highly in endowment per student ($320,722 per student), indicating strong financial resources that can fund quality educational offerings.
The Impact of Online Sports Betting
The impact of Massachusetts online sports betting on the College of the Holy Cross endowment fund was discussed in relation to Selection Sunday. However, the exact details of this impact are not provided.
The Hope + Access Campaign
The Hope + Access campaign is a philanthropic effort to enable all admitted students to attend the College of the Holy Cross. The campaign aims to raise $40 million for need-based financial aid and began in January 2021, spanning an eighteen-month period until June 2022.
President Rougeau's Address
Recent news surrounding the College was discussed in a meeting with President Rougeau. The conversation was the final interview of the semester for the News Editors-In-Chief and took place in his living room beside the fireplace.
[1] Source: College of the Holy Cross website. [4] Source: National Association of College and University Business Officers (NACUBO).
- The endowment at the College of the Holy Cross also supports student scholarships, ensuring accessibility for a diverse array of students.
- The faculty at Holy Cross benefits from the endowment, as it helps fund hiring and retention of qualified educators.
- The community around the College of the Holy Cross can stay informed about endowment news and events through the Ignite site.
- Beyond financial aid and academic programs, the endowment also supports educational and self-development initiatives, such as faculty research and special programs.
- The College of the Holy Cross is not directly involved in online sports betting, but the potential impact of such activities on the endowment is a topic of discussion among investment partners.
