Melissa Korn

speaker

822 appearances 14 recordings 1 series first heard Sep 2017 last heard Sep 2024

Melissa Korn’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Your Last Name Could Mean Thousands in Scholarship Money · 12 Jun 2024 podcast

And it really depends on the school.

There are quite a few.

And again, some of these are from very old families, centuries old, and some of them are more recently created.

It really varies.

Some, it's a few hundred dollars, just kind of takes the edge off a little bit.

Others, game changer in terms of being able to go to a particular school.

So these are gifts that the donors made years, decades, centuries ago, and they are endowed gifts.

But every investment income is coming from that fund.

The school uses a portion of that each year to fund these scholarships.

So the goal is for these to generally last in perpetuity.

So they'll give these away every year forever.

A couple of things.

There is this opportunity to connect with your alums, to have your graduates feel a continued connection.

They're getting money from it.

They're getting someone to pay someone's student bills.

So that's appealing.

And it also is...

in a way of kind of niche marketing play.

So if you're a school and you give scholarships to someone with three particular last names, you can search who took the SAT and has that last name and reach out to them directly.

And maybe they weren't looking at your school, but they sure are now.

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