Vanderbilt University Spends $1.2 Billion to Make College Affordable
For Vanderbilt University students, the last decade has been marked with increased financial aid from the university to make attending the institution more affordable, a new report from the school has found.
Since the inception of the Opportunity Vanderbilt program in 2008, the university has distributed $1.2 billion in undergraduate aid to more than 10,000 students. More than 7,500 alumni, parents and friends of the university contributed over $400 million in support for the program since it began, as well.
Presently, 65 percent of Vanderbilt undergraduates are merit- or need-based scholarship recipients.
“Making Vanderbilt affordable and accessible has strengthened the quality of the university overall and put it on an upward trajectory in several key areas,” Douglas Christiansen, dean of admissions and financial aid, said.
“Over the last decade, we’ve more than doubled our applicant pool and nearly doubled the diversity of our first-year class.”
Recently, the university has been focusing more on strengthening Opportunity Vanderbilt by directing more funds from received gifts toward the program’s endowment.
“We are proud to celebrate the generosity of our alumni, parents, and friends to fuel this transformative initiative that is at the core of everything Vanderbilt values,” Susie Stalcup, vice chancellor for development and alumni relations, said.
“It speaks volumes that our community continues to invest in and strengthen this program. Their support changes lives,” Stalcup added.