Penn State’s senior class decided in October that the 2016 Class Gift would establish an endowment to benefit Counseling and Psychological Services (CAPS).The CAPS funding beat two other contenders, and the Class of 2016’s legacy has made waves in the Penn State community as students and alumni have raised record-breaking funds.
On Tuesday, the Class Gift Campaign executive committee announced it will partner with the Alumni Association to raise more money for the endowment. The Alumni Association will match the funds raised by the Class of 2016 — an amount that adds up to $200,000. Currently, this commitment by the Alumni Association is the largest in Penn State Class Gift history.
According to Penn State News, the Class Gift Campaign raised more than $125,000 in support of CAPS, leaving just $75,000 unmatched. Students graduating in May or December of 2016 are still eligible to donate, meaning the Alumni Association may still give more as well.
CAPS has a wait list that is months long, and many students are desperate to get in but are unable to because of such large demand. In the first year of the endowment, funds will go toward stationing a CAPS counselor in one of Penn State’s residence halls. After that, a discretionary fund will allocate $18,000 a year in general funding, ensuring that the program will continue to help students many years down the line.
