Scholarships

Scholarships make college more affordable by reducing the costs of higher education. By providing students the financial support needed to enroll in a degree program, as well as boosting morale and students’ confidence in their ability to work toward a better future, scholarships are a key piece of Old Dominion University’s strong foundation for supporting students.

Scholarship Endowments 

Scholarship endowments provide donors with the opportunities to create living legacies. When a scholarship is created, you touch the lives of future generations.

Two-thirds of Old Dominion University students rely on financial aid to achieve their dreams, and 70 percent of this aid consists of student loans. Although Old Dominion is one of the best educational values in the Commonwealth, the University's current endowment per full-time student is $8,055. This leaves the average Old Dominion undergraduate with $15,000-$20,000 of student loan debt upon graduation. Scholarship support can make the difference between completing an education or not. Private donors have funded nearly all scholarships at Old Dominion University.

[From July 1, 2019 - June 30, 2020 there are a total of 27 new endowed scholarships established]

An initial investment of $25,000, payable over five years, will establish a named, endowed scholarship. The principal is not invaded, and the income will contribute to the success of deserving students.

 

There is no better legacy to Old Dominion University than a gift of a scholarship endowment.

 

Below are the different endowed, named scholarship opportunities available:

Unrestricted Endowed Scholarship / $25,000 +

Named scholarships at this level are unrestricted and will have the broadest impact, benefiting all ODU students with financial need. Once the scholarship is fully funded, it will allow for an annual distribution of approximately $1,000.

Designated Endowed Scholarship / $50,000 +

At this funding level, named scholarships can be designated to a particular college, school or unit based on the donor’s interest. Once fully funded, this scholarship allows for an annual distribution of approximately $2,000.

Impactful Endowed Scholarship / $175,000 +

This named scholarship provides the opportunity to give substantial aid to an individual student with financial need. Scholarships at this level can be designated based on the donor’s interest. Once this scholarship is fully funded, it would allow for an annual distribution of approximately $7,000.

Full Tuition Endowed Scholarship / $350,00+

Donors who would like to name an endowed scholarship that covers the full tuition of an individual student with financial need may select this option. Scholarships at this level can be designated based on the donor’s interest. Once fully funded, this scholarship allows for an annual distribution of approximately $14,000.

Full Cost-of-Attendance Endowed Scholarship / $750,000 +

This scholarship is for those who want to name an endowed scholarship that will provide the basis for full-ride funding – tuition, room and board – for an individual student with financial need. Scholarships at this level can be designated based on the donor’s interest. The minimum endowment level can be reached with an outright gift or through pledge payments. Once fully funded, this scholarship allows for an annual distribution of approximately $30,000.

Opportunity Scholarship Fund, Endowed Scholarship / $1,000,000 +

This scholarship is for those who want to name an endowed scholarship that will provide the basis for study abroad, undergraduate research and entrepreneurial opportunities. Scholarships at this level can be designated based on the donor’s interest. The minimum endowment level can be reached with an outright gift or through pledge payments. Once fully funded, this scholarship allows for an annual distribution of approximately $40,000.