Loyola Marymount to seek $100 million for financial aid
Loyola Marymount University is launching a campaign to raise $100 million for student financial aid, officials will announce Thursday.
The Los Angeles school has about $5.3 million of that in hand and its president, David W. Burcham, said he was confident the rest can be raised from alumni and other supporters over the next three years. The university, which enrolls about 9,300 undergraduate, graduate and law students, wants to increase grants, reduce the amount of loan debt for students and take less money for financial aid from the annual operating budget.
“To compete effectively with other top universities that are also working to recruit the best students, we must be able to offer adequate scholarship support to the applicants we select,” Burcham said in a statement.
Without aid, undergraduates face annual bills of $51,000 for tuition, room and board at Loyola Marymount. Burcham said that about two-thirds of undergraduates receive some grants but that only 15% have their full needs met so many have taken out large loans.
Loyola Marymount last spring completed a seven-year fundraising campaign that garnered $411 million for construction, endowment, scholarships and other activities. Now it wants its new campaign, called the Loyola Marymount University Scholarship Initiative, to focus solely on aid.
“By allowing us to select our students from the widest possible pool of applicants, the scholarship initiative will help keep our university vibrant and stimulating,” Burcham said.
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-- Larry Gordon
Photo: Students walk across campus at Loyola Marymount University. Credit: Irfan Khan / Los Angeles Times