COLORADO SPRINGS, Colo. — The estate of a Colorado College (CC) alumnus donated $18 million to the school. CC officials said it's the largest cash gift from one person in school history.
$16 of that donation will go into the school's financial aid fund for students.
The donation William “Bill” Clement, graduation class of 1942.
Attending CC on a scholarship from Illinois area alumni, Clement left an impression on the school during his attendance. He died in 2022.
CC officials said with his donation, more low-income families will be able to attend starting next school year.
"It gives you hope in humanity," said junior Hannah Hopkins.
Hopkins got a full-ride scholarship to attend CC.
"It changed the whole trajectory of my life, it's giving me opportunities that I would never ever have otherwise," said Hopkins.
Nearly half of CC students get some sort of financial aid from the school. 40% on need-based support.
"Every year we have students, talented deserving students, who rise to the top of our applicant pool with financial need that exceeds our ability to fund it, this gift helps makes some progress in that direction," said Molly Bodnar.
Bodnar is the interim Vice President for Advancement at Colorado College. She said only 2% of educational institutions in the US are able to cover tuition, board and fees for students who qualify. CC is one of them.
"We don't gap students, meaning some institutions are able to provide a certain level of support but doesn't meet the student's full need," said Bodnar.
The remaining $2 million will be reinvested into the Clement Challenge, which matches donors until the end of 2024.
Following graduation from CC, Clement worked on the Manhattan Project as a physicist in the Radiation Labs of the University of California, Berkeley.
After the end of WWII, he attended Berkeley where he received his MA in physics and PhD in philosophy.
He credits the impact CC had on his life stating, “It is not too presumptuous that out of schools such as this, come the leaders of tomorrow.”
The donation comes with no restrictions, as Clement firmly believed in the power of education, and did not hesitate to commit his fortunes to continuing to help the school give its students the best possible opportunity for education.
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