While we do recognize scholarship and academic achievement, many students at Saint Mary's College receive substantial need-based help. In this way we are typical of most private colleges, whereby over eighty percent of our current first-year class receives substantial financial aid. Because most college aid is need-based, the net cost of college to a family declines with income. Students from less-affluent homes receive more financial aid because they need it. A large part of a college's non-academic work is devoted to locating sources of support for our programs and students.
Colleges benefit through gifts from alumni who give for the benefit of future students.
Foundations and friends of the institution who believe in its mission contribute scholarships, grant awards and other forms of financial aid. In our case, for example, the Lilly Endowment has permitted us to distribute millions of dollars to allow students from small towns in Indiana to go college here. For another example, a local donor has funded a new scholarship for local minority students who want to teach in the South Bend public schools after graduation. There are many other programs, as well. Establish a relationship and seek their expert advice.