Endowed Scholarships Pay Lifelong Dividends for BVU Students

     The increasing pressures on college tuition are making the generosity of benefactors in funding scholarships an important financial “lifeline” for many students. In the 2003-04 academic year, BVU awarded $770,000 in endowed and restricted scholarships, primarily from endowed funds. In addition, BVU awarded another $11 million in institutional gift aid from the university budget. For students like Tanya Rosenbaum, scholarships helped ease the financial burden. Over her four years at BVU, about 40 percent of her tuition costs were covered by scholarships, and 30 percent came from institutional gift aid. The balance was financed by student loans, which totaled $20,000, and help from her parents.
      Among the scholarships that Tanya received was the Clyde and Marcia Krause Endowed Scholarship, which she was awarded both her junior and senior years.
      Established in 1999 by Clyde Krause, a Storm Lake financial advisor for Piper Jaffray Corporation, and his wife, Marcia, a 1964 Buena Vista graduate, the scholarship is for BVU students with a major in the Harold Walter Siebens School of Business.
      “I am very appreciative of the scholarships I have received from Clyde and Marcia Krause and others,” says Tanya, who graduated in May 2004 with a double major in accounting and management. “Without their assistance, it would have been more of a financial hardship for me to go to BVU. When I get out into the working world, I would like to do something for the students who follow in my footsteps.”
      Tanya was also active in co-curricular programs and was a Deans Fellow all four years. Her senior year, she was the president of Student M.O.V.E, a student community service board, and she was president of Esprit de Corps, a student organization that introduces visitors and prospective students to BVU. During her years at BVU, she also worked on The Tack, the student newspaper, and was a cheerleader, a residence hall advisor, and a Student Activity Board member.
      In addition to her many campus activities, Tanya helped finance her education through work-study hours and until her final semester, a 25-hours-a-week job at a local convenience store. This spring, she worked full-time in the BVU Business Office while also taking 12 hours of classes, and continued in that position after graduation. She plans to take the CPA exam and to pursue a career as a controller or senior auditor.
      Local service work has also been important to Tanya, a native of Waucoma, as she volunteered to work with students at a Storm Lake elementary school, and in the city’s Community Education program.
      “We are extremely happy to play a small part in students’ lives by helping them finance their college education,” says Clyde, a 1961 graduate of Morningside College. “We know that generous people provided funds that helped make it possible for both of us to graduate from college. And both of our children have their college educations and are doing very well in their careers. We think that it is only fitting that we should continue to help others.”
      Having a college education opened the door to an enjoyable and satisfying career of more than 41 years for Clyde, including 34 years with Piper Jaffray. In fact, his career with Piper Jaffray has a special benefit for BVU because the Krauses’ annual contribution to their scholarship endowment is matched in part by the company.
      “Our family’s relationship with Buena Vista dates back many years,” says Clyde. “My grandfather attended BV, and my mother and sister both earned degrees at BV. The Storm Lake community is fortunate to have the university. The faculty and students lend so much leadership and provide a stimulating environment for all living here.”
     “It is our philosophy that people should be all that they are capable of being,” Clyde says. “In order to grow, we must continue the lifelong process of learning. In turn, we are convinced that one’s personal investing is a lifelong process. With that in mind, we also believe that gift giving is not just for today, but is best served by gifts that will continue to go on giving for the long term.”
      “Knowing that we are playing a part in students’ lives is very rewarding,” says Marcia, who taught school a few years after graduating from Buena Vista. “We enjoy hearing from the students about what the scholarship means to them, as well as learn about the activities they are involved in at BVU and their ambitions. We would encourage anyone who can to establish a scholarship fund and enjoy this satisfying endeavor.”

Editor’s note: If you would be interested in discussing the possibility of establishing an endowment for a scholarship, either during your lifetime or through a bequest, please contact Ken Converse, vice president for institutional advancement, at 712.749.2101.

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