Loyola University Maryland recently made headlines with three significant donations totaling $32 million. This is a first for the university, showing strong support from its alumni.
The initial gift of $10 million came from John Cochran III and his wife, Patricia. This donation will boost a scholarship fund for local students and develop faculty programs. Just days later, H. Edward Hanway and his wife, Ellen, matched that amount to enhance the university’s science center and create new programs for nursing students.
The last donation, $12 million from Susan Bloomfield and her husband, Bill, will also support the science center and scholarships for first-generation college students. Bloomfield expressed her confidence in the university’s future, appreciating the strategic decisions being made.
These alumni have a strong history of supporting Loyola. Brian Oakes, the university’s vice president for advancement, emphasized that these generous gifts reflect confidence in the school’s direction.
Founded in 1852, Loyola educates around 5,100 students, with nearly 4,000 undergraduates. Approximately one-third hail from Maryland, and the student body is diverse, with 56% identifying as women and 34% as people of color. The university’s endowment sits at $345 million, which helps keep the cost of attendance at $61,810 for the 2026-27 academic year. Remarkably, 99% of students receive some form of financial aid, with an average cost of $34,711 for those needing assistance.
Recent trends show a growing interest in philanthropy within higher education. A report from the Council for Advancement and Support of Education noted that donations to U.S. colleges rose by 12.5% last year. This surge indicates a broader trend where alumni feel a strong connection to their institutions and want to give back.
As the landscape of education continues to evolve, support from alumni like those at Loyola is crucial. These contributions not only enhance resources but also inspire current students, signaling that success is achievable with community backing.
If you want to learn more about the importance of alumni giving in higher education, check out the report from the Council for Advancement and Support of Education here.
