Enterprise Rent-A-Car donates $25 million for scholarship fund
Thursday morning, Enterprise Rent-A-Car and Washington University announced that the St. Louis-based rental car company pledged $25 million to WU in support of a permanent scholarship fund for African-American and financially disadvantaged students.
The gift will establish the Enterprise Rent-A-Car Endowed Scholarship Fund, and beneficiaries of the fund will be known as Enterprise Rent-A-Car Scholars.
Enterprise Rent-A-Car President and Chief Executive Officer Andrew C. Taylor, who is also a member of the WU Board of Trustees, said the donation will address a weakness in the performance of the Campaign for WU. WU’s capital campaign has so far raised $1.1 billion, with a goal of $1.3 billion for June 30, 2004. The campaign includes a fundraising goal of $175 million for student scholarships.
“During our initial meetings with [WU Chancellor Mark Wrighton] and his team, the capital campaign was very successful, but it did have a need for donation of scholarship funds,” said Taylor. “We were very happy to provide a boost in that area and hopefully we will attract others to support the capital campaign.”
According to Wrighton, the fund will support 30 to 40 undergraduates per year.
One half of the Enterprise Rent-A-Car Scholars will be African-American students, selected on the basis of criteria set by the John B. Ervin Scholarship Program, which currently administers merit scholarships that are given to up to ten incoming undergraduates each year in recognition of intellectual achievement, community service and leadership skills.
The other half of the scholarship recipients will be students who require financial assistance to attend the university.
The scholarship is also geared towards the St. Louis area: ten percent of all scholarships will be reserved for high school graduates and community college transfers from the St. Louis region.
Enterprise Rent-A-Car is the largest rental car company in North America, with 4,800 offices throughout the United States, Canada, the United Kingdom, Germany and Ireland.
Contact Bill Bulman at [email protected]
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