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Donor
Related Questions
Q:
How
would you define the unique roles of the VFIC and its colleges?
A:
The
VFIC is a strong statewide organization that raises money to support the
15 leading private colleges and universities in Virginia. These colleges,
educating 20,000+ undergraduate students a year, provide small classes, low
student-faculty ratios, personal attention to students, and a time-tested
residential liberal arts experience- important and distinctive options
compared to large public universities. Clearly, one of the VFIC’s
fundamental purposes is to preserve Virginia’s small private college
sector as an option for students now and in the future.
Q:
Why
should an individual, corporation or foundation support the VFIC?
A:
There
is a statewide issue in play here. All Virginians, particularly our young
men and women, benefit when the Commonwealth has a vibrant private college
sector. The VFIC provides a central, convenient and effective way for
donors to support private higher education throughout
Virginia. The VFIC's approach is founded on the basic theory that a rising
tide lifts all boats - so with one contribution, donors impact 15
colleges and universities statewide, benefiting thousands of young men
and women simultaneously.
Q:
Beyond
academic programs, how else do the private colleges benefit Virginia?
A.
Economic
development - these colleges are vital engines of
commerce for their regions, with an overall economic impact of well over
$1 billion to the state’s economy.
Workforce
development - each year, a high percentage of the
graduates of VFIC colleges move directly intro business and professional
careers here in Virginia.
Quality
of life - these colleges provide arts, cultural and
educational opportunities for citizens of all ages in towns, cities and
regions throughout the Commonwealth.
Q:
How
do the colleges use the VFIC money?
A:
Donor
designation is the key. Unrestricted gifts go to the colleges for them to
use where needed most, generally to enhance educational programs. Gifts to
the VFIC’s scholarship initiatives go to the colleges in the form of
financial aid for need-based students. Donors also regularly support other
VFIC programs designed to meet priority college needs, such as for
libraries, undergraduate research, ethics programs, and campus technology
needs.
Q:
Is
the VFIC interested in gifts toward its endowment?
A:
Yes.
The VFIC’s traditional role is that of a pass-through organization,
meaning that the majority of gifts are sought (and given) as part of an
“annual fund” to flow directly to the colleges that year. But some
donors wish to assure the permanent flow of funding to these colleges, and have established endowments at the VFIC. These named funds are
invested, and five percent is drawn down each year to support the
colleges. The advantage of these gifts is that the colleges can count on
this support in perpetuity.
Q: How do I make a contribution to the VFIC?
1. Checks may be mailed to:
Virginia
Foundation for Independent Colleges
8010
Ridge Road, Suite B
Richmond,
VA 23229
2. Donate a Gift-of-Stock
3. Credit Card --
A. Contact the VFIC office: Myrtle Turner, Finance Manager
B. Contribute Online: Network For Good
Contact
Mary-Beth Johnson
to request our Annual Report or other information.
Student
Related Questions
Q:
Private
schools are only for wealthy students, right?
A:
Absolutely
wrong. Over 65% of our 20,000 students receive some financial aid. In
fact, 30% qualify for the Federal Pell Grant Program. Although the
average VFIC college tuition is $15,000, students who receive financial
aid pay an average of only $3,000. Our schools make an effort to attract
students from all income levels.
Q:
So,
this financial aid is both for students who have need, as well as for
students whose academic records merit a scholarship?
A:
That's
right. Financial support to attend VFIC colleges is awarded both on the
basis of demonstrated need as well as for merit. Each individual family's
financial situation is different. All students interested in financial aid
should file the Free
Application for Federal Student Aid (FAFSA) to determine their
level of need and to help the colleges determine the financial aid package
which is appropriate for each student.
Q:
Does
the VFIC give scholarships directly to individual students?
A:
No.
Our distribution takes place in June of each year with money going
to our member colleges. Scholarship
recipients are selected by each member college's financial aid director,
based on the criteria stipulated by to donor of the gift. (We do have 2
scholarships with separate
application and selection processes).
Financial
Aid and Scholarship Programs
Q:
If
I am a Virginia resident, isn't there a state grant available to me if I
attend a private college?
A:
Yes,
you're thinking about a TAG (Tuition Assistance Grant) award. For 2004-05
the award is approx. $2,500 for each domiciliary resident of Virginia.
See the Council of
Independent Colleges in Virginia for further
information about the TAG program.
Q:
How
many minority students go to our colleges?
A:
About
17% of the students who attend our 15 colleges are minority. This includes
African-Americans, Hispanics and Latinos, Asian and international
students. Some individual colleges have a much higher percentage. Our
institutions strive for diversity and want students from all ethnic
backgrounds and income levels - each campus has numerous activities
targeted to meet the interests of everyone. Q:
How
can I get more information about each individual college and their
admissions requirements and financial aid programs?
A:
Use
our Member Colleges
link to each college's web site.
Q:
Are
there many different majors offered by VFIC colleges?
A:
Yes,
each college offers typical majors such as English, business, psychology
and the sciences. The VFIC colleges also offer a number of unique programs
such as pharmacy, forestry, interior design, and sports and fitness
administration.
Q:
Do
many students from states other than Virginia attend the VFIC colleges?
A:
Yes,
only 55% call Virginia home. The remaining 45% are from the other 49
states as well as many foreign countries. Check
the statistical
data to learn more statistics about our colleges.
Q:
How
many years does it take to obtain a degree from a VFIC college?
A: On average, four years. Each individual student's approach is different. Some students switch majors and have to take an extra semester of courses. A small percentage of students take courses part-time.
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