$50 million gift kicks off scholarship campaign at University of St. Thomas

A $50 million donation for promising business majors is the lead gift in a University of St. Thomas fundraising campaign that aims to raise $200 million for student scholarships.

President Julie Sullivan said the gift from the estate of commercial real estate developer Gerald Rauenhorst fits her top fundraising priority of pushing down the cost of attendance.

Over the next eight years, St. Thomas hopes to double its $150 million scholarships endowment while raising an additional $50 million to be distributed more quickly.

The St. Paul-based Catholic school’s tuition and fees this year are $41,133. Students who take out federal loans leave the school owing an average of $26,000, government data show.

Read more: http://www.twincities.com/2017/11/16/50-million-gift-kicks-off-scholarship-campaign-at-university-of-st-thomas/