Alumni Association Endowed Scholarship Fund

The School of Medicine Alumni Association has created the Wayne State University School of Medicine Alumni Association Endowed Scholarship Fund. The fundraising goal for this endowment is a corpus with a market value of at least $12 million. In consideration of anticipated continuing increases in the cost of tuition, the School of Medicine Alumni Association hopes to provide relief to as many students as possible in financing their education at the School of Medicine through this endowment. When the initial goal of $12 million is attained, this fund will provide awards to every incoming student in the School of Medicine, in perpetuity. The School of Medicine Alumni Association is committed to leading the fundraising efforts for this endeavor. This fund shall provide scholarships to more students than any single fund established in the history of Wayne State University through private philanthropy. Case for Student Scholarship Support

• MI resident tuition per year ($30,350) plus living expenses = $56,931
• Non-resident tuition per year ($61,255) plus living expenses = $88,138
• Students spend an average of 6-7 hours per day in active class time and/or clinical time and face an additional 6-7 hours of study time. Working their way through school is no longer an option
• Although not employed, many of our students support the community by participating in service projects at community clinics that provide care to the uninsured. Others serve as mentors through local school systems
• Generally speaking, today's students often utilize a 20-30 year debt repayment plan which increases the total repayment amount adjusted to include interest over time
• State funding to higher education in Michigan has decreased dramatically in the last several years, an effect of a challenging economy. With the corresponding reduction from the state, universities have had little choice but to seek revenue through increases in tuition. Families in Michigan are feeling the economic squeeze, and universities suffer the ripple effect, so the cost of higher education becomes even less affordable for many without scholarship support.
• 23% of the Class of 09-10 graduated with debt over $200,000.
• 1,226 students are enrolled at The School of Medicine. Only 17% received scholarships or 208 students.

In the last 3 years:

• Percentage of students graduating with debt averaged 88%
• The average debt load per student rose $20.000 to $162,000.
• Percentage of graduates with debt over $200,000 increased 13%

WSU Medical Students Need Your Support:

• To become the top-notch physicians of the future
• To have the ability to focus on their studies rather than on the increasing burden of tuition and other educational expenses
• To be encouraged to enter the med-specialty of their choice
• To reduce their average debt load of over $150,000 per student
• To increase educational support in lieu of decreasing support from government sources
• To reward their dedication to the practice of medicine

For more information regarding the WSU School of Medicine Alumni Association Endowed Scholarship Fund, please contact: