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Patrick F. Taylor Foundation pledges more than $1 million in scholarships for Loyola undergrads

Loyola press release - January 31, 2013

The Patrick F. Taylor Foundation recently pledged $1.26 million in scholarship support to Loyola University New Orleans for academically talented, first-generation college students who reside in Louisiana and demonstrate financial need. The Foundation’s grant will provide seven $15,000 scholarships per year over the next 12 years for deserving students. The first seven scholarships will be available to students enrolling for the Fall 2013 semester, and will be awarded in August 2013.

“In the face of rising tuition costs nationwide, Loyola has renewed its commitment to increasing need-based scholarships, and private donor support such as this generous gift from the Patrick F. Taylor Foundation enables us to enroll the best students regardless of their economic standing,” said Loyola President Kevin Wm. Wildes, S.J., Ph.D. “Loyola’s history of providing scholarships to students is responsible for many of the characteristics on which the university prides itself—our campus’s diversity, educating first-generation students, our dedication to holistic education and our commitment to academic excellence.”

Students who receive the Patrick F. Taylor Foundation Scholarship must carry a class schedule of at least 15 hours per semester and meet the grade point average required for students in Louisiana’s Taylor Opportunity Program for Students (TOPS), which is a 2.3 GPA after the first year, and a 2.5 GPA for each subsequent year.

“We are very pleased to be able to offer scholarship assistance to Loyola University New Orleans. This outstanding educational institution with its 100 years of experience has much to offer its students. These scholarships will significantly benefit Louisiana students who are the very first in their family to have an opportunity to attend a university. It will also assist in helping to provide an educated work force to face the needs of tomorrow,” said Phyllis M. Taylor, president and chairwoman of the Patrick F. Taylor Foundation.

Currently, 65 percent of Loyola students receive need-based financial aid, and about 30 percent of its students are eligible for Pell grants, which serve some of the most economically challenged students. Additionally, roughly 30 percent of Loyola’s current student body is comprised of first-generation students, or those who are the first in their families to attend college. Educating first-generation students affects not only the student receiving a Loyola education, but in many cases, each generation of his or her family that follows.

“Our ability to attract outstanding students—who not only succeed for themselves on their own merits but motivate those around them with their achievements—is directly tied to the need-based and merit-based scholarships we can provide them in a competitive higher education market,” said Wildes. “The Patrick F. Taylor Foundation’s generosity and confidence in our students and our mission will make a major difference in our students’ lives and in our work as a university.”