UK receives $5M gift for student scholarships. Here’s who will be eligible for funds
A $5 million donation to the University of Kentucky, the largest donation given at one time towards scholarships in the school’s history, will help lower the cost of attending UK for students.
The donation from Bill Gatton will target three different groups of students, including those from medically under-served areas who want to attend medical school. First-generation students also will be given priority for the scholarships.
UK President Eli Capilouto said the funds will help transform the lives of students and the future of Kentucky.
“Students, on an individual level, are going to reach the finish line with a degree that prepares them for a life of meaning a purpose, especially those with limited financial means,” said Capilouto. “Twenty-five percent of our students come from families whose average income is around $20,000. This provides opportunities, especially for that group of students.”
Scholarships will be available to students in three different groups, with priority given to first-generation students in each of the following areas:
- Current UK students from Kentucky will be eligible for scholarships averaging between $5,000 and $6,000, based on financial need and progress towards graduation, available this spring semester.
- First year students from Muhlenberg and McLean counties, and undergraduate students who attended the Gatton Academy in Bowling Green, will be eligible for scholarships.
- Forty scholarships of up to $25,000 will be given to Kentucky students in UK’s College of Medicine, with preference given to students from medically under-served areas.
Gatton is the largest single donor to UK, with the college of business and economics and the Student Center named after him. In total, he has given more than $70 million to UK, the university said in a statement. The board of trustees will vote to accept the gift at its meetings next week.
Capilouto thanked Gatton for his donation, and said it will “make an enormous difference” for students attending UK.
“When I meet our graduates out in communities, and see the difference they’re making, and knowing because of Mr. Gatton’s gift, there are going to be more of those individuals,” Capilouto said. “More of those individuals will be able to serve Kentucky.”
Scholarships will be distributed through UK’s LEADS program, which tracks unmet financial need for students and matches them with scholarships, grants and one-time aid. Eligible students will be contacted about receiving the scholarships in the coming weeks, said Kirsten Turner, vice president for student success.
“This $5 million is going straight into the hands of our students and their families,” Turner said. “It’s going to be 100% targeted to students who have need and who are trying to finish their degrees and progress. In totality, it’s going directly to students who have need, and that can really help students in all sorts of ways.”
Mike Richey, who recently retired as UK’s vice president for philanthropy and alumni engagement, works with Gatton and his foundation. Richey praised Gatton for his generosity and the difference it will make to UK students.
“His heart is in higher education and helping students succeed,” Richey said of Gatton. “Scholarships are important to him because he knows that this can help reduce the element of debt, and also it can help encourage them in their academic pursuits. It’s helping shape students’ lives to make a difference for the Commonwealth of Kentucky.”
This story was originally published February 10, 2022 at 1:26 PM.