In Your Midst
Scholarships For Cathedral Kids
October 98

Giordan Montero
Giordan Montero is in the 2nd grade at St. George. He received one of the first St. James Parish Scholarships.
Recently I was talking with a new parishioner, a young mother with a near school-age daughter.

"My husband and I love being Cathedral parishioners, but I wish that you had a school. Sally starts kindergarten next year and we want her to have a Catholic education."

"A school?" I replied. "We don't have one parish school, we have five parish schools!"

As she looked at me quizzically I went on to explain that St. James is a member of the Rainbow Schools Project wherein 12 central city parishes contribute to the support of St. Joseph, St. Therese, St. Edward, St. Paul and St. George elementary schools. More importantly for this young mother, any registered contributing member of any Rainbow parish is eligible for the "in parish" tuition rate at a Rainbow School.

"That's great," she said, "but even with the parishioner rate, we would have trouble coming up with the tuition. I guess Sally will have to go to public school."

There is some good news. In early 1998 the Cathedral Development Committee embarked on a program to establish scholarships for St. James' children to attend Catholic elementary schools. Beginning with the 1999 school year, the parish will be able to offer financial aid to several St. James children who wish to attend one of the Rainbow Schools or another Archdiocesan elementary school.

There are three categories of scholarships. The first is the Pooled Education Endowment Fund gifts of at least $500 that will be invested in an income producing fund. A portion of the earnings will be distributed each year for scholarships, while the principal amount and unspent earnings will continue to grow.

The second category is Direct Named Scholarships. Under this plan, donors agree to make a gift of $1,000 or more per year for at least 10 years. These gifts will be distributed as partial scholarships each year at the beginning of the school year.

The third category is Endowed Scholarships, wherein donors may establish an endowment fund for the purpose of a named or memorial scholarship with a minimum gift of $25,000. Like the Pooled Endowment, earnings from this endowment will go to yearly scholarships, while the principal amount will be invested to provide tuition aid in the years to come.

These scholarships will be distributed annually to children of active parish families who demonstrate financial need and meet other criteria established by the Scholarship Committee. All funds will be distributed directly to the school in which the child is enrolled. Parents interested in receiving more information should contact Sr. Anne Herkenrath.

To learn more about gift opportunities for scholarships, contact Rick Oldenburg at (206) 382-4284.

Larry Brouse is the Pastoral Assistant for Administration at St. James Cathedral.

Back To October 98 Issue