CORVALLIS, Ore. – U.S. Bank has committed $100,000 to Oregon State University’s Presidential Scholarship program, which supports high-achieving incoming freshman from Oregon. It is the university’s most prestigious scholarship, and pays tuition costs for nearly 240 students each year.
U.S. Bank has been supporting scholarships at OSU since 1988. Their most recent gift creates a permanent endowment for the scholarship in their name.
“Presidential Scholarships are among the best tools the university has to recruit Oregon's best and brightest students to our campus,” said OSU President Ed Ray. “This gift will help these talented students get the most out of their time at Oregon State, while freeing them as graduates to make career choices without the constraints of educational debt.”
U.S. Bank’s gift is part of OSU’s Presidential Scholarship Match Program. As part of the match, OSU provides funds immediately to qualified students while donors complete pledge payments to fully fund their endowed scholarship.
“The match program is a great incentive to create a permanent endowment for a program that is already very rewarding,” said Mitch Benedict, market president of U.S. Bank’s Linn-Benton office. “We are thrilled to know that with this newest gift, U.S. Bank will continue to support these impressive students for generations to come.”
Lake Oswego freshman Michael Conan was named the U.S. Bank Presidential Scholarship recipient as a result of this most recent gift. A business major with aspirations of becoming a certified public accountant, Conan credits the scholarship program as the reason he chose OSU.
“This scholarship was the deciding factor in which college I would attend, and I believe that the decision to attend Oregon State University is the best choice I could have made,” said Conan. “The community and learning environment at OSU has exceeded all expectations, and I believe it will continue to impress me as I move through the business program.”
The Presidential Scholarship program awards an average of $8,000 per year to students. Scholarships are renewed each academic year for up to four years to students who remain in good standing.
With this gift, donors have committed nearly $155 million in support of scholarships and fellowships, toward The Campaign for OSU’s overall $1 billion goal, including more than 500 new scholarship and fellowship funds.