Mines News

Release Date Tuesday, January 30, 2018

Sanford Donation to Horatio Alger Association Benefits SD Mines Students

Three 2017-2018 Horatio Alger Scholars at South Dakota School of Mines & Technology are Caleb Furse, Ashley Bauder and Matthew Miller.  

RAPID CITY, SD (Jan. 30, 2018) – A $30 million endowment gift from South Dakota philanthropist T. Denny Sanford to the Horatio Alger Association of Distinguished Americans, Inc. will benefit students at the South Dakota School of Mines & Technology and other select universities through the Horatio Alger-Denny Sanford Scholarship Program. 

The gift will provide $3 million per year in scholarships – for the next 10 years – to Horatio Alger Scholars choosing to attend any of 12 universities selected by Sanford. Scholarship allocations will be based on current enrollment. SD Mines will receive up to $150,000 in scholarship funds per year.

“On behalf of Mines, I would like to thank T. Denny Sanford for this extraordinary gift. The Horatio Alger-Denny Sanford Scholarship Program will have a significant impact on students who have faced adversity - helping them to achieve their educational goals through financial assistance. As a result, their successes in education and beyond will not only strengthen their lives, but our communities,” said SD Mines President Jim Rankin. “We are extremely excited for Mines students to benefit from this generous gift as they pursue their degrees in the fields of science and engineering. Thank you to Denny Sanford for your commitment to young people and higher education in South Dakota and nationwide.”  

Currently, there are five Horatio Alger Scholars at SD Mines, with three of them receiving scholarship awards this academic year. Since academic year 2013-2014, SD Mines has had 17 Horatio Alger Scholars receiving awards ranging from $1,000 to $2,000. 

Caleb Furse, a sophomore civil engineering major at SD Mines, is a four-year Horatio Alger Scholar. The 2016 Custer High School graduate says the Horatio Alger scholarship has made a huge impact on his future.

“Without the scholarships, I wouldn’t be able to be here,” he said. In fact, his scholarships have made it possible for him to avoid taking out any school loans. Although Furse isn’t sure exactly what he wants to do once he graduates, he knows one thing for certain. “I would like to work here in South Dakota,” he said.

The Horatio Alger Association of Distinguished Americans Inc. is a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education. T. Denny Sanford is a Horatio Alger Association Member and chairman of the board for United National Corporation, the holding company for First PREMIER Bank and PREMIER Bankcard, headquartered in Sioux Falls, South Dakota. The $30 million gift is the largest single donation ever received by the Association since its inception in 1947. 

The Horatio Alger-Denny Sanford Scholarship Program will benefit Horatio Alger Scholars beginning in the 2019-2020 academic year. 

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About SD Mines  

Founded in 1885, the South Dakota School of Mines & Technology is a science and engineering research university located in Rapid City, S.D., offering bachelor’s, master’s and doctoral degrees. The university enrolls 2,778 students with a student-to-faculty ratio of 15:1. The SD School of Mines placement rate is 96 percent, with an average starting salary of $62,929. Find us online at www.sdsmt.edu and on Facebook and Twitter.

 

Contact: Lynn Taylor Rick, (605) 394-2554, Lynn.TaylorRick@sdsmt.edu

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