Hood College will receive $54 million donation for undergrad scholarships

Gabrielle Lewis, The Frederick News-Post, Md.
·2 min read

Oct. 16—Hood College has received a $54 million donation from The Hodson Trust — the largest donation in the school's history — which will go toward funding undergraduate scholarships, the school said Monday.

The donation will increase the school's endowment by 42% and have "an unprecedented impact on the institution's financial aid resource pool," according to a news release.

The $54 million will go toward Hodson scholarships, awarded to students of "outstanding academic ability" who have demonstrated leadership in their school and local communities, according to the news release.

Scholarship amounts can range from $10,000 to about $30,000 on an annual basis depending on students' academic achievements and financial need, Hood College President Andrea Chapdelaine said in an interview.

The Hodson Trust, established in 1920, has donated more than $150 million to Hood College during the trust's 103 years. The trust was terminated in November. This donation is the final one to the school.

The first named Hodson scholarship was established in the 1978-79 academic year. Since then, over 2,200 Hood College students have received a Hodson scholarship, according to the release.

In the fall of 2022, 252 of 1,202 full-time undergraduate students — or almost 21% — had received Hodson scholarships.

About 23% of Hodson scholars are first-generation college students, according to the release.

Chapdelaine said the endowment will "impact hundreds of students on an annual basis" and allow the college to offer several more scholarships. The donation will stay in the college's endowment forever, and the interest earned on the endowment will be what's used to fund scholarships, she said.

Chapdelaine said about 30% of Hood's students are from Frederick County and about 75% are from Maryland.

"The impact is going to be, not just for our students, but it really is a gift to our entire community to increase access to a Hood education for Frederick County and beyond," she said.