Alumni chapters have fewer than six months remaining in which to raise money for replenishment grants that will be matched by BYU. The university will contribute $30,000 to match every $30,000 raised before the Aug. 1 deadline; the interest from each $60,000 fund pays full tuition for one undergraduate student every year. Local chapters select their own grant recipients.
Replenishment grants are a way to ensure that scholarship help continues into the future. The program is based on the idea of the Perpetual Immigration Fund that helped bring members of the LDS Church to Utah during the 19th century. BYU has adapted the idea by creating replenishment grants that give tuition money to struggling students if they promise to pay back the grants once they are able to do so.
A replenishment grant increases perpetually because only the interest is lent out. When a student repays the loan, that money is added to the base fund. As the fund increases, so does the interest that can be loaned.
So far, eight grants have been established within six alumni chapters, and several other chapters have committed to raise the needed funds. Those interested in contributing to a local chapter replenishment fund should contact Roy Brinkerhoff at (801) 378-4964.
Alumni Today