Schell Foundation Awards Grant to Denison University
Date of Event: March 4, 2009
Posted: March 5, 2009
The Charles E. Schell Foundation, Fifth Third Bank, trustee, has awarded Denison University a $100,000 grant to be used for interest-free student loans.
The new grant will be paid over four years and will increase the size of Denison’s existing Schell Fund for interest-free loans. The fund works as a revolving loan pool: when loans are repaid by students who have graduated, the monies are then loaned to other students.
“We are grateful to the Schell Foundation for selecting Denison to receive this grant, and we are thrilled to be able to expand this unique fund,” said Denison President Dale T. Knobel. “Especially in this tough economy, it’s important for us to offer a range of financial resources to students. Denison has worked aggressively for many years to make college affordable for as many students as possible. An interest-free loan is clearly an exceptionally advantageous financial arrangement, and these loans can make a big difference for students with financial need.”
Denison’s Schell Fund was established in 1985, enabling the college to make more than 200 interest-free student loans over the years. Denison students who are United States citizens and residents of Ohio, Kentucky, West Virginia or adjoining states are eligible for Schell loans, subject also to other factors such as age and academic grade-point average.
The Charles E. Schell Foundation was founded by Charles E. Schell of Cincinnati in 1932 as a trust used for educational purposes. The Foundation Office at Fifth Third Bank serves as trustee for the Schell Foundation. In addition, the Foundation office serves as trustee or co-trustee or administers more than 70 private and corporate foundations that grant more than $30 million annually to worthy non-profit entities across the United States.
Denison University, founded in 1831, is an independent, residential liberal arts institution located in Granville, Ohio. A highly selective college enrolling 2,100 full-time undergraduate students from all 50 states and dozens of foreign countries, Denison is a place where innovative faculty and motivated students collaborate in rigorous scholarship, civic engagement and the cultivation of independent thinking.
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