The Jarboe Family Scholarship Fund

An Endowed Scholarship is a financial aid fund established by a donation to an educational institution. The principal amount of the donation is kept intact, while the interest or investment income generated from this principal is used to fund scholarships. The school manages the endowment to ensure that it continues to generate sufficient income and that the scholarships are awarded according to the donor’s wishes.

An individual, group, or organization donates a sum of money to create the scholarship. This initial donation is known as the “endowment.” The investments are usually in stocks, bonds, real estate, or other assets, and are managed to generate income while also preserving or growing the original principal amount over time. The interest or income generated from the investment is used to fund scholarships. This helps to cover tuition for students who meet the criteria set by the donor.  Since only the income from the endowment is used to provide scholarships, the fund can continue indefinitely. This makes endowed scholarships a sustainable form of financial aid.

Endowed scholarships provide a continuous source of financial aid for students, year after year, without requiring ongoing fundraising. They are a way for donors to leave a lasting legacy at an institution and to have a long-term impact on students’ lives.

In addition, scholarships ensure the St. Mary’s Ryken experience is accessible to a wider range of students, ultimately creating a more diverse student population. By providing financial assistance to students from underrepresented or low-income backgrounds, St. Mary’s Ryken creates a more inclusive and representative student body. Diverse educational environments best prepare all students for postsecondary life.

Furthermore, scholarships and financial aid can also help to improve the overall academic performance of a private school. Studies have shown that students who receive financial aid are more likely to graduate and have higher GPAs than those who do not. This is likely due to the fact that financial aid can help to alleviate some of the stress and financial burden that can come with attending a private school, allowing students to focus more on their studies.

Most importantly, financial aid scholarships at St. Mary’s Ryken provide much needed financial support that helps students who excel in a values-based, college-preparatory curriculum to afford the costs of tuition regardless of their families’ income levels. The impact of these scholarships is life-changing for the students and families who benefit from them.

The advantages of attending an independent Catholic school for most students are invaluable. Studies show that Catholic School graduates generally experience higher earning potential than public school graduates. In addition, Catholic schools outpace public schools in national assessments year after year, according to The Nation’s Report Card,* the country’s leading measure of academic achievement in public and private schools. Financial Aid scholarships provide these opportunities for hardworking students who come from families that require extra assistance to cover the costs of tuition.

At $20,000 per year, St. Mary’s Ryken remains among the most affordable Catholic high schools in the Maryland and DC regions. Still, the school faces a gap of over $3,000 per student each year and covers more than $2 million in operating expenses. Additionally, nearly $3 million in financial aid and scholarships are awarded annually, with 80% of all students receiving assistance. Tuition, philanthropy and facility rentals are the school’s only sources of revenue. St. Mary’s Ryken does not receive government or diocesan funding.