As in previous years, we ask those alumni returning to their reunion to make a commitment to support the current generation of students, by collectively endowing a bursary.
Endowment of one full bursary (to support a student with up to £3,500 per year) costs £100,000. This funding is means-tested and for UK students means they aren’t deterred from applying to College as they don’t have to borrow as much for tuition and maintenance. Those in receipt of full Cambridge bursaries have a household income of below £25,000 per year, and are now being affected greatly by increased inflation particularly in food, housing rent and energy.
The campaign target of £100,000 is collective, so gifts are pooled together and invested so that only the investment return is spent each year, meaning funding is guaranteed in perpetuity. So far we’ve had a great response from the 1972–77 years to fund their bursary, with over £40,000 donated. We had over £12,000 in new donations to the fund, totaling £16,531.25 with Gift Aid, during the time that the year groups returned for their reunion. Thanks to anonymous donors, funds given over the reunion weekend were matched, with £10,000 from one generous donor from one of the year groups, and £2,500 from another.
The overall total raised is £40,000 from eighty donors, so we need to raise another £60,000 to fully endow the bursary. Development colleagues will continue fundraising for this, and it will be featured in September’s telethon. Thanks to all those who have supported the fund so far.
