MCPHERSON, Kan. –( BUSINESS WIRE )–McPherson College has announced the creation of an endowed scholarship fund for students pursuing a degree in automotive restoration. The Rob Walton Scholarship Fund will focus on attracting and retaining the best students in the college’s unique auto restoration program.
The $1 million gift from the Rob and Melani Walton Foundation will be supplemented by the two-for-one donor match announced by the particular college within November, resulting in $3 million for the McPherson College endowment. The particular anonymous double-match estate commitment of $500 million is the largest in the history of any liberal arts college in the United States.
“This grant helps us fulfill our mission of being the center associated with excellence with regard to students serious about automotive restoration, ” said McPherson College President Michael Schneider. “Students completing their degree from our program are the skilled craftsmen, technicians, historians, curators, managers, marketing and communication persons, and leaders necessary to preserve the particular classic car industry. ”
The Waltons join the former host of The Tonight Show and vehicle enthusiast Jay Leno in providing student scholarships regarding the system and continue the significant contributions toward the $250 million match recently introduced by McPherson College.
“Driving and collecting vintage automobiles is a personal passion, ” said Rob Walton. “We’re pleased to contribute to educating the next generation of car restorers and making college more affordable for McPherson students. ”
The McPherson College auto restoration plan combines the liberal arts approach with hands-on craftsmanship that prepares students to be successful in a broad range of careers in the particular automotive industry. Graduates of the nation’s only accredited four-year bachelor’s degree program in automotive restoration go on to work for the biggest names within the auto industry. Current students are usually restoring a 1953 Mercedes-Benz 300 S Cabriolet that will be entered in the renowned Pebble Beach Concours d’Elegance within 2023. The program has attracted the attention of industry leaders plus car enthusiasts such as Richard Lundquist, who donated the 1972 Ferrari 365GTB/4 Daytona to the system.
Beyond offering one-of-a-kind educational opportunities, McPherson College is committed to helping students graduate with little to zero student debt. Its College student Debt Project utilizes financial literacy, mentoring, and matching funds in order to assist students working while attending university. So far, students in the plan have reduced their projected debt at graduation by $12, 000. Scholarships, like the Rob Walton Scholarship Account, work within tandem along with the Pupil Debt Task to help minimize the particular need intended for student and family academic loans.
To date, the college has raised over $130 million from the $250 million needed to secure the $500 mil match, including a $50 million dedication from Californian philanthropists Melanie and Rich Lundquist. In order to learn more about the $500 million two-for-one match applied to endowment donations plus estate gift commitments made to McPherson University, visit mcpherson. edu/500match .
About McPherson College
McPherson College will be committed in order to its objective “To develop whole individuals through scholarship or grant, participation, and service, ” in a career-focused liberal artistry environment. It’s been recognized nationally simply by US News & World Report, Money Magazine, plus the Chronicle of Higher Education’s “Great Colleges to Work For. ” Its Automotive Restoration program may be the first four-year degree program of its kind and was awarded the prestigious industry supporter of the year by International Historic Motoring. Learn about all of the programs in www.mcpherson.edu .