By Vanessa Figg, February 24, 2017
WARRENSBURG, MO - For the sixth consecutive year, the University of Central Missouri
Alumni Foundation has increased the payout from its endowments in support of students
and academic programs. The Foundation Board of Directors authorized a payout of $1.4
million for fiscal year 2018, which is a 7.81-percent increase from FY17 and nearly
triple the payout since FY12.
“Our alumni are passionate about their alma mater and recognize the opportunities created by the value of their college degree,” said Richard Phillips, president of the UCM Alumni Foundation Board of Directors. “At a time when access to an affordable education is a growing challenge, our board’s commitment to investing in the success of our students and university is unwavering.”
As student debt across the nation crossed the $1-trillion mark in 2013, according to the Consumer Financial Protection Bureau, UCM’s commitment to keeping tuition affordable has ensured the student body’s average debt to a minimum.
“One of our greatest priorities at UCM is to maintain college access and affordability for our students, particularly at a time when significant decreases in state funding pose historic challenges to our efforts to keep costs down,” said UCM President Chuck Ambrose. “We are grateful for the support we receive from our alumni and friends who contribute to scholarships enabling more students to attend UCM, and ultimately reducing the debt burden they and their families could face for many years to come. The UCM Alumni Foundation Board deserves our appreciation for recognizing this tremendous need by increasing the payout from its endowments.”
The president added that “such efforts are contributing to a reduction of students’ debt by $15.2 million, due to less dependence on federal loans, which have decreased by 22.3 percent since the 2012-2013 school year.”
“This would not be possible without our alumni and friends, who are focused on advancing our university and creating opportunities for students to earn a college degree,” said Jason Drummond, vice president of University Advancement and executive director of the UCM Alumni Foundation. “The steadfast vision of our Board of Directors is ensuring that barriers are being removed for generations of students who want to achieve their dreams.”
To make a gift in support of student success, visit ucmfoundation.org.