A long-standing student loan fund at The University of Alabama has been transformed into a scholarship fund aimed at juniors and seniors. The Lucille Ryals Thompson Endowed Student Success Scholarship will help upperclassmen who need financial assistance to finish their degrees, either on time or even earlier.
This scholarship prioritizes students who have completed at least one year at UA and show financial need. Students can receive an amount comparable to out-of-state tuition, which covers university-related expenses such as tuition, books, and housing. To apply, students must write an essay explaining their financial situation. Unlike the old loan fund, this money is a gift, meaning students won’t have to pay it back.
John Wingard, Executive Director of the Capstone Center for Student Success, emphasized the importance of this support. “Many great students face challenges that disrupt their plans. This scholarship helps those working hard academically, allowing them to achieve their goals,” he said.
The initial loan fund, founded by the Thompson family in 1991 with donations totaling $750,000, has now grown to $1.75 million. This means the scholarship can provide around $80,000 each year to deserving students.
Mike Thompson, former CEO of Thompson Tractor Company and a recent inductee to the Alabama Business Hall of Fame, understands the value of philanthropy firsthand. He has actively contributed to various initiatives across the university, highlighting the impact of financial support for students from diverse backgrounds. “My father never finished college, yet he valued hard work and determination,” said Thompson, revealing the inspiration behind the scholarship’s mission.
Bob Pierce, Vice President of Advancement, noted a gap in support for students facing unforeseen financial hurdles. “While many donors focus on incoming freshmen, this scholarship addresses the needs of those already on campus who are smart and driven, but experiencing challenges,” he explained.
In honor of his late mother, Lucy Ryals Thompson, both the original loan fund and the scholarship bear her name. Thompson fondly referred to her as “quiet but strong,” a steadfast supporter of his family’s initiatives.
The Office of Student Academic Engagement and Advocacy will help administer the scholarship. Dr. Kiara Summerville, the office director, said they will not only award funds but also support recipients throughout their academic paths. “We’ll guide them through the application process and check in regularly to ensure they feel connected and supported,” she said.
Mike Thompson’s family legacy continues to influence The University of Alabama. Their commitment to philanthropic efforts spans three generations. “They have made a substantial difference across the campus,” Pierce said, highlighting their extensive contributions ranging from scholarships to program support.
The application process for the Lucille Ryals Thompson Endowed Student Success Scholarship will reopen on January 15, giving students the chance to apply for this life-changing support.
