The Richard Stockton College of New Jersey received the first outright $1 million gift in its history this week.
And this money isn’t for a fancy new wing with naming rights. Instead, the donors, who wish to remain anonymous, stressed the funds are to be used for the direct support of students facing exceptional financial hardships, according to Stockton President Herman J. Saatkamp, Jr. He said the gift will be invested by The Richard Stockton College Foundation in a permanent endowment and distributed in perpetuity to support need-based financial aid.
“The donors understand that some students face true personal sacrifice to attend Stockton and in extreme cases must decide between transportation, books and even food,” Dr. Saatkamp stated. “The generosity of these donors enables us to help many students and their families on a permanent basis.”