Campaign FAQ

What is the Aim Higher for Students campaign and why is it needed?

Aim Higher for Students will increase Wayne State’s ability to fund both need-based and merit-based scholarships, as well as other student opportunities through internships and service-learning. The goal is to increase annual scholarships and new endowed funds, creating resources that will have a significant and direct impact on Wayne State students.

The need is now because:

• Limited Federal student aid combined with rising tuition rates are widening the gap between cost of attending college and students’ ability to afford it.
• 70% of WSU students expect to cover their educational expenses with grants, scholarships or military funding.

What are the ways I can make a gift to the Aim Higher for Students campaign?

Aim Higher for Students is primarily a scholarship campaign, although you may support other initiatives that benefit students directly, including fellowships, grants, internships and service-learning opportunities. You can make a gift to the campaign in any number of ways. Outright gifts made immediately or pledges given over several years are made available to the university during your lifetime. Most planned gift options will benefit the university through your estate.

Gifts may be given to the Wayne Higher Aims scholarship, which will benefit Wayne State University students in general. You also may designate your gift for a specific purpose, such as support for students in a specific school, college or program.

Another option is to create a named fund with your gift, which enables you to honor, memorialize or recognize an individual or organization. You may have your name, or the name of someone close to you, associated with a scholarship, fellowship, or other special fund that will benefit students at Wayne State University. Such gifts acknowledge these individuals' commitment and dedication to the institution.

Click here for additional information about the types of scholarships you can support.

Planning Considerations

When you consider setting up a Named Scholarship Fund (Annual or Endowed), ask yourself these questions:

• Will my scholarship be annual or endowed?
• Is my gift for general university scholarships or is it for students in a specific school, college or program?
• Is the scholarship for full-time or part-time students?
• Is the scholarship for graduate or undergraduate students?
• Should a minimum GPA be required?
• Will applicants have to demonstrate financial need?
• Will scholarship recipients be able to pay any educational expenses with the award, or is it dedicated to tuition only?

How soon can my gift benefit the university?

Your gift will benefit the Aim Higher for Students campaign depending on whether you make an expendable or endowed gift.

An expendable gift can be used immediately by the university for the purposes you designate. The advantage is that they provide immediate support to the area you designate.

Once an endowment is fully funded at a minimum of $25,000, quarterly spendable distributions will begin and continue in perpetuity. The advantage is that the principle is invested and only a portion of the investment earnings are spent. For example, a $25,000 endowment will generate $1,125 annually (or $281.25 per quarter) based on the 4.5% annual distribution rate.

How does Wayne State invest endowed gifts?

The Wayne State University Foundation established an Investment Committee to oversee and manage the endowments. The committee employs external professionals to manage and invest the portfolio. The committee also contracts with an external consultant and uses university staff to assist in overseeing the entire process, including review and evaluation of the investment managers. The external consultant is New England Pension Consultants, Inc.

The asset allocation policy provides for a diversified portfolio. This policy, along with the mix of investment managers, is designed to grow the fund over the long-term in order to maintain the purchasing power of the endowment as well as fund the distributions to university programs.

Are gifts to Aim Higher for Students tax deductible?

Yes, all contributions to Wayne State University in support of Aim Higher for Students are tax deductible as allowed by law.