Holy Cross receives $11M gift for student financial aid

Photo | Courtesy of Holy Cross Funded by an $11-million alumni gift, the McKay Opportunity Fund will expand financial aid for students to access hands-on programs.

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By Katherine Hamilton

The College of the Holy Cross in Worcester has received an $11-million alumni gift, which will go toward scholarships and an emergency fund to support students in financial distress, the college announced Thursday morning.

Alum Robert McKay, who graduated in 1955, and his wife Elizabeth donated the gift. The $11-million gift included $1.3 million in cash gifted over the last year, and two separate $5-million bequest intentions made in May 2021 and in February, said Nicoleta Jordan, Holy Cross assistant director of communications, in an email.

The funding will go toward the existing Elizabeth and Robert McKay ’55 Family Scholarship, which provides scholarships to students from Robert’s hometown Waterbury, Conn. and the surrounding area.

Additionally, the money will establish the Wetzel McKay Emergency Fund, which will support students at the college facing unforeseen needs not covered by financial aid, and the McKay Opportunity Fund, which will expand access for students with financial needs to participate in hands-on programs like study abroad and academic internships.

“The new McKay funds, coupled with the family’s existing scholarship, will enable our most vulnerable students to afford Holy Cross and participate fully in the vibrant academic and extracurricular life of the College. The gift respects the dignity of every student who has financial need and eliminates hidden barriers to success,” said Holy Cross President Vincent Rougeau in a statement.

Holy Cross received its largest-ever gift in January 2021: A $23.5-million from the late board of trustees member Agnes Neill Williams, a groundbreaking lawyer. That funding launched the Hope and Access campaign for financial aid, which aimed to raise $40 million by June. The campaign has already raised more than $46 million, according to the college’s website.