The College of the Holy Cross in Worcester has received an $11 million alumni donation, which will go towards scholarships and an emergency fund to support students in financial difficulty, the college announced Thursday morning .
Alumnus Robert McKay, who graduated in 1955, and his wife Elizabeth donated the gift. The $11 million gift included $1.3 million in cash donated over the past year and two separate $5 million bequest intentions made in May 2021 and February, said Nicoleta Jordan, deputy director of communications from Holy Cross, in an e-mail.
The funding will go to the Elizabeth and Robert McKay ’55 Family Scholarship, which provides scholarships to students in Robert’s hometown of Waterbury, Conn., and surrounding areas.
Additionally, the money will help establish the Wetzel McKay Emergency Fund, which will support college students facing unforeseen needs not covered by financial aid, and the McKay Opportunity Fund, which will expand access for students with financial need to participate in practical programs. such as study abroad and university internships.
“The new McKay funds, combined with the family’s existing scholarship, will enable our most vulnerable students to afford Holy Cross and fully participate in the vibrant academic and extracurricular life of the College. The donation respects the dignity of every student who has financial need and removes hidden barriers to success,” Holy Cross President Vincent Rougeau said in a statement.
Holy Cross received its largest-ever gift in January 2021: $23.5 million from late board member Agnes Neill Williams, a groundbreaking lawyer. This funding launched the Hope and Access financial aid campaign, which aimed to raise $40 million by June. The campaign has already raised more than $46 million, according to the college’s website.