Alumni Perpetual Scholarship Fund
No one should be unable to study at the University of Navarra due to a lack of financial resources
The Alumni Scholarship Program aims to respond to a long-held aspiration of St. Josemaría Escrivá, founder of the University: “No one should be unable to study at the University of Navarra due to a lack of financial resources.”
“Supporting the Alumni Perpetual Scholarship Fund contributes to social development by enabling students who lack the necessary financial resources to gain access to a profound educational experience.
This education, along with the essential professional and scientific knowledge, helps students develop the qualities that make them responsible citizens with depth of thought, a critical spirit and an international perspective who understand their work as a service to others and society.
María Iraburu / President of the University of Navarra
75 for the 75th
With the mission of reaching more talented students regardless of their financial situation, the University of Navarra has set the goal of establishing 75 Alumni Perpetual Scholarship Funds by the 75th anniversary of its founding in 2027.
This ambitious project is supported by the generous collaboration of alumni and institutions that believe in the University of Navarra’s direct impact on society.
Alumni Scholarship Program
A program of financial aid for undergraduate studies specific to the University of Navarra. The Alumni Scholarship Program targets students who have an excellent academic record and the skills to preform brilliantly in their university studies, but lack financial resources.
The University of Navarra Alumni Scholarship Program is funded through the generous collaboration of University alumni and other individuals and organizations that are aware of the University’s positive social impact achieved through its educational activities.
Scholarship recipients prepare their own personal development plan.
Besides receiving financial support, they participate in social, cultural and solidarity activities.
Scholarship beneficiaries assume the moral commitment of collaborating with the program whenever possible. The result: students committed to their own education and professionals with excellent training and a vision of solidarity.
Multiplier effect
20 years 2.000+ students 861 Full BAN scholarships €43 million earmarked for the program
Since its launch in 2003, more than 2,000 students have benefited from an Alumni Scholarship at some point during their studies.
861 of them have completed the entire degree thanks to the program.
Program donors are directly involved in the positive impact on Alumni Scholarship beneficiaries when they perform their professional work and in family and social contexts
Alumni Perpetual Scholarship Fund
Lasting social impact
A perpetual scholarship is one of the most impactful ways of sustainably giving back to society because it leaves a permanent footprint.
An Alumni Perpetual Scholarship Fund is established through a University endowment that reinvests a percentage of the interest on the principal in the fund itself to ensure its sustainability. Meanwhile, another percentage of the fund is earmarked for alumni scholarships. Therefore, when scholarship recipients complete their studies, their scholarships automatically pass on to other students. The interest on the principal helps fund the scholarship and the principal is never spent.
The donation therefore leaves a permanent footprint because of the positive impact on current scholarship holders and the provision of recurrent funding for new beneficiaries. The University recognizes the generosity and commitment of donors by naming the scholarship fund after the company, institution or family.
The perpetual nature of these scholarships ensures a recurring impact in perpetuity.
Program features
To establish an Alumni Perpetual Scholarship, the donor, whether an individual, foundation or company, makes a donation of at least €200,000 to the scholarship fund. This amount can be used to finance the undergraduate studies of students, who receive an average scholarship of €7,000.
Donations to the scholarship fund are payable in installments over a period of 5-7 years, starting with a minimum annual amount of €30,000. In the case of installment payments, the University will be able to apply the resources from the fund one year after receipt of the full amount of the donation commitment.
Donors to the Alumni Perpetual Scholarship Fund have some control over how the funds they contribute are used. For example, they may choose the degree programs that scholarship recipients can pursue or their geographic origin.
Donation: € 200,000 Payable over: 5-7 years Starting at: € 30,000 Average amount of each scholarship: € 7,000
The endowment, a guarantee of lasting impact
Made up of donations and managed by experienced investment professionals, the University of Navarra endowment provides stability and guarantees the perpetuity of the projects.
The University of Navarra endowment
Student enrollment fees cover the costs of ordinary teaching, but the scholarships and infrastructure necessary for teaching and research activities are paid for by the University through donations from Friends of the University, companies, foundations and alumni. Some of these collaborations take the form of contributions to the University’s endowment.
An endowment is a portfolio of assets that helps provide stable financing for part of the University’s activities. The goal is to contribute an annual amount to the regular budget for fulfillment of the University’s own purposes so that the donations received have a lasting impact and become a stable source of financing for the activity over time.
The endowment is also intended to provide an added return to maintain the long-term purchasing power of the fund’s assets. Endowments are usually made up of a variety of subendowments, or modalized funds, which target specific university activities (e.g., research and scholarships) based on the donor’s wishes.
The endowment is managed internally by the investment team of the University Foundation of Navarra. For a portfolio of these characteristics and a long-term time horizon, a relevant piece of data is the average return obtained over long periods.
Perpetuity
These resources will be available to future generations
Permanent value
Part of the proceeds are reinvested, the rest goes to the donor’s choice
Stability
Profits are distributed annually among the projects
To achieve the two-fold goal of funding the scholarship program and maintaining the endowment’s purchasing power over time, the Foundation is governed by investment and expenditure regulations that establish certain limits on investments, mainly with the aim of limiting risk and complying with the University’s set of values.
Investment limits
The investment policy limits volatility to 10%. Another limit is 70% maximum exposure to equity securities, 15% to high yield fixed income assets and 30% to positions in alternative assets. In addition, leverage is not allowed except when it arises from derivative positions, though they may not exceed 30% of the value of the assets under management.
The policy also establishes the formula for calculating the amount allocated for specific purposes each year.
Law on spending
The annual allocation for specific purposes is based on their profitability in accordance with the law on spending adopted. This formula allows an amount to be allocated annually for fulfillment of specific purposes while the rest of any return is allocated to recapitalize the fund so that it does not lose purchasing power.
The spending policy establishes that the amount available for spending is calculated based on 3.5% of the average value of the portfolio in the previous year (giving it a weight of 20% in the equation) and the amount available in the previous year adjusted for inflation (weight of 80%).
Allocation for specific purposes: 80% of the previous year’s figure + 20% of the endowment value x 3.5%
Source of the fund
The existence of an endowment is linked to the generosity of the donors who have donated funds to permanently sustain the Alumni Scholarship Program.
Alumni Scholarship Endowment
The University Foundation of Navarra has a specific endowment for the University of Navarra Alumni Scholarship Program. To achieve the two-fold goal of funding the scholarship program and maintaining the endowment’s purchasing power
Alumni Scholarships Endowment 2022
over time, the Foundation is governed by investment and expenditure regulations that establish certain limits on investments, mainly with the aim of limiting risk and complying with the University’s set of values.
Casimiro Molins and María Dolores López Rodó BAN
Dr. Noel N. & Maria J. Eboh BAN
Stakeholders
1.Individual
2.Family
3.University
4.Company
5.Society
Social impact
Since 2003, the Alumni Scholarship Program has had a positive impact on scholarship recipients, their families, the University of Navarra itself and the companies that recipients have joined as professionals. The support received thus generates a multiplier effect on society.
Concept Impact
1.University education
2.Personal skills
3.Professional career
4.Household finances
5.New opportunities
1. Access to a profound educational experience
2. It facilitates access to postgraduate training programs
6.Academic excellence
5. Access to more advanced education than the previous generation
6. Improvement of the financial situation of the family of origin
8. It enables highachieving students to have a positive effect on their peers
9. Students with a spirit of self-improvement
10. Prestige of the University among employers
7.Diversity
8.Commitment
9.Social changes
13. It ensures exposure to students from diverse geographic and social backgrounds who share the same academic and value-based education
15. It makes a contribution to t he economic progress and development of the country of origin
3. Personal development: critical thinking skills and qualities, an international perspective and a spirit of service
4. Access to the job market in better circumstances
7. It facilitates access to higher education for other family members such as siblings
11. It strengthens recipients’ willingness to repay the financial aid received by giving back to the Alumni Scholarship Program in the future
12. It generates strong bonds between the alumni community and the University
14. It includes highly motivated mature students with a spirit of service
16. Commitment to local communities
Impact on the recipient
Scholarship recipients are the main focus of the Scholarship Program.
University education is one of the main factors of social promotion.
These scholarship help students enter the job market, provide a steady boost to their professional career and determine their future income level.
The Alumni Scholarship Program provides talented students with the financial aid they need to study at a university they would not have had access to with their own resources:
— It prevents students from incurring financial debt in order to study by making it easier for them to earmark their time exclusively for their studies.
— It makes it easier for them to set aside resources for postgraduate studies or to acquire additional training.
— Classmates, professors and advisors form a network that facilitates career progression after college.
— It is a recognition of hard work and talent, as well as an additional source of motivation for students to do their best in their studies and professional career.
86% of scholarship recipients would not have studied at the University of Navarra if they had not received the scholarship.
90% of scholarship recipients who did not take a civil service examination or continued their training in a master’s degree found their first job within three months.
90% of scholarship recipients believe that the scholarship helped them grow personally and develop their set of values..
Gonzalo de Lucio DEGREE IN MEDICINE GRADUATE, 2023 “
I’m aware that being an Alumni Scholarship recipient involves being responsible to myself and also thanking everyone who collaborates with the program and placed their trust in me.
Impact on the family
The Alumni Scholarship Program benefits the families of student recipients in three fundamental ways:
In a context of rising living costs, an Alumni Scholarship allows families to earmark resources for current expenses such as food, housing and education of other family members.
In addition, in some cases, they provide an element of social promotion by giving a family member the chance to receive a better education than members of previous generations.
Finally, for many families, receiving a scholarship means an improvement in their financial situation because it helps them avoid incurring debt to pay for their
university studies. When they enter the job market, Alumni Scholarship recipients can help their family:
— By alleviating the financial burden incurred by the family.
— The training opportunities for other family members, such as siblings, are enhanced.
— When scholarship recipients start working professionally, their family’s financial situation improves.
— The family the former recipient starts has an improved financial situation.
70% of former scholarship recipients believe that the Alumni Scholarship helped improve their family’s financial situation.
40% would have applied for a student loan to enroll in the University of Navarra.
€43.000 estimated average savings per family.
30% come from families in which the parents did not receive a university education.
100% of these scholarship recipients would not have studied at the University of Navarra without an Alumni Scholarship.
The scholarship has provided my family with a great opportunity. I’ll be the only one of my siblings to graduate from college and the first in my family.
Warren Dave Santiago GRADUATE OF TECNUN SCHOOL OF ENGINEERING “
Impact on the University
The academic excellence and commitment of Alumni Scholarship recipients have a positive impact on the university community as a whole. This is true in the classroom, the attitudes and values they display with fellow students and the prestige of professionals from the University who join the job market.
— This helps the University of Navarra in its mission to create and disseminate a culture that promotes the dignity of each person and the value of the family, not to mention increased understanding and cooperation between men and women of all races, mentalities and social conditions.
— It contributes to the University’s mission to improve people’s social and financial environment.
— It helps attract talent to the University.
— It encourages greater student diversity.
— It influences the motivation and performance of all students, not only scholarship recipients.
— It promotes a culture of giving among alumni.
— It strengthens the University’s good reputation.
— It contributes to the University’s financial independence regardless of the political and economic situation.
75% The academic records of scholarship recipients are among the top 75% of their graduating class.
70% of former scholarship recipients maintain their emotional bond with the university.
“
Alumni Scholarship recipients have a positive effect on the performance of the student body as a whole. This occurs at the academic level and also when it comes to taking advantage of all the opportunities offered by the University outside the classroom, such as volunteering, sport s and culture.
Rosalía Baena
VICE PRESIDENT OF STUDENTS, UNIVERSITY OF NAVARRA
Impact on companies
In addition to preparing graduates with a solid academic and human background for the job market, the Alumni Scholarship Program can have a positive impact on companies in different ways:
— It favors the recruitment of talent.
— It enables companies to align their corporate social responsibility goals with their strategic objectives.
— Companies recruit young professionals from different geographic and cultural backgrounds, as well as diverse socioeconomic situations.
— Companies hire young professionals who maintain a strong bond with the University of Navarra and their peers. This bond becomes an interdisciplinary form of networking.
90% of scholarship recipients are hired within three months of completing their university
studies.
Adela García de Tuñón DIRECTOR OF HUMAN RESOURCES, LINKLATERS “
I have had the opportunity to meet students and professionals from the Alumni Scholarship Program. The program puts them in a special category of people with a high level of commitment that translates into professionals who have a positive impact on the organization.
Social impact
The education provided by the University of Navarra and the Alumni Scholarship Program itself contribute to the overall development of scholarship recipients by teaching them the values of professionalism, responsibility, generosity, a spirit of service and their ability to improve the society around them.
Global impact: 70% of international students who receive an Alumni Scholarship return to their country of origin after finishing their studies, thus promoting the transfer of knowledge and encouraging solidarity, which has an impact on their country of origin.
— The program promotes diversity: it enables people from a wide range of financial and social backgrounds and conditions to achieve their potential.
— Promotion of equal opportunities.
— The scholarship program promotes social mobility.
— It exposes young professionals to the culture of hard work and intergenerational generosity.
90% of scholarship recipients believe that the scholarship helped them grow personally and develop their set of values.
70% of international scholarship recipients work professionally in their home country.
50% of former scholarship recipients collaborate with their own local community through donations and/or volunteering.
Meaza Berhe FIRST-YEAR STUDENT OF INTERNATIONAL RELATIONS “
My plan is to work hard here and go back to Ethiopia, where I’ll collaborate by applying the knowledge and skills I’ve acquired at this University. I’ll be able to help many people.
University of Navarra
Key figures
Since 1952
non-profit research university
7 CAMPUSES
University of Navarra Pamplona — Madrid — Donostia-San Sebastián. IESE Barcelona — Madrid — Munich — Sao Paulo — Nueva York. Clínica Pamplona — Madrid.
Students Alumni
13k+
200k+
29% INTERNATIONAL 120 COUNTRIES 2
MUSEUMS COLLECTIONS CONTEMPORARY ART
NATURAL SCIENCES
PROFESSIONALS
1.200+ 7.000+
PROFESSORS
1.000+
PROFESSIONALS ON 7 CAMPUSES
RESEARCH
106M € MORE THAN RESEARCH CENTERS
9
PEOPLE WORKING AT RESEARCH CENTERS
SPENT ON ACTIVE PROJECTS
650+
CEJE / CIB / CEIT / CIMA / CIN / DATAI / ICS / BIOMA / CCUN
TRANSFER
300+ R&D
RANKINGS
CONTRACTS WITH COMPANIES
#1 #1
IN SPAIN IN INTERNATIONAL FOCUS Ranking CYD 2023
#37 IN THE WORLD IN EMPLOYABILITY. By Emerging Times Higher Education 2023 IN SPAIN IN REPUTATION AMONG EMPLOYERS. QS World Ranking 2024
Collaborating multiplies your impact
The University of Navarra allocates its enrollment income to cover the cost of ordinary teaching, but financing the enrollment fees of students who cannot afford the cost of the University based on their families’ resources is only possible with the financial support of alumni, companies, philanthropic institutions and Friends of the University from all over the world.
For more than seventy years, the University of Navarra has contributed to social improvement by rigorously administering the contributions made by thousands of donors, who, through the University of Navarra, have made it possible to do research, build the necessary infrastructure for teaching, and provide scholarships for undergraduate students.
By contributing economic resources to the Alumni Perpetual Scholarship Fund, individuals and institutions know that their contribution has an impact on the present and is also projected in perpetuity.