The Austin E. Knowlton Foundation will provide $500,000 over the next five years for Augustana College scholarships and financial aid, the Rock Island liberal arts college announced on Tuesday, July 29.
Hundreds of current and future students will benefit from the $100,000 a year Augustana will receive each year from Knowlton over the next five years, according to a post on the college’s website.
The Knowlton Foundation’s primary mission is to promote and advance higher education in the U.S. through direct grants and contributions to qualified colleges and universities. In the past the foundation has supported such Augustana College offerings as the Augustana Prison Education Program (APEP) that has graduated four East Moline Correctional Center former and current inmates to date.
“As an activist higher education philanthropist, we’re acutely aware of the affordability-value crisis across colleges and universities, and we’re deploying funds that schools can use immediately to reduce net costs to students,” Eric Lindberg, trustee and chief investment officer for The Knowlton Foundation, said in the news release.
“Our priority is providing this funding to schools that are well-run and positioned for longer-term success but which will benefit materially in the short term by boosting scholarship aid — and Augie strongly fits those criteria,” Mr. Lindberg said.
‘Truly an honor’
“To be selected for this funding is truly an honor,” added Jon Enslin, Augustana’s vice president of college advancement. “This gift directly supports one of our most urgent priorities: increasing access and affordability for students from all backgrounds. The Knowlton Foundation’s investment helps us live out our mission by removing financial barriers and expanding opportunity.”
Other ways the Knowlton Foundation has supported the college’s mission through the years, include establishing the Austin E. Knowlton Memorial Scholarship as well as funding the Austin E. Knowlton Outdoor Athletic Complex.
“We appreciate our longstanding relationship with the Knowlton Foundation,” Andrea Talentino, Augustana’s president, said in the release. “They are a forward-thinking partner that is dedicated to helping us provide meaningful opportunities for students in ways that show real and obvious return on investment.”
