Under the leadership of new President and CEO Shantay Bolton, one of Columbia’s new goals is expanding scholarships — part of a broader plan to boost student success and address the college’s growing financial challenges.
A central part of that plan is the college’s new donation initiative, the Renaissance Innovation for Student Excellence Fund, which Bolton announced during her first State of the College address earlier this month. The fund is part of Columbia’s new strategic plan that aims to raise money for programs, research and targeted scholarships.
At the State of the College, Bolton projected a QR code on the screen behind her and asked faculty and staff in attendance to donate, noting that all seven members of her president’s cabinet have made contributions.
“We cannot ask others to invest in Columbia if we are not willing to do so ourselves,” she said before asking for donations from the audience seated in the Student Center ballroom. “Remember it’s not the size of the gift that matters. It’s the demonstration that you are placing a vote of confidence in who we are and the work that we’re doing.
To help support new scholarships, the college also plans to raise funds at its annual scholarship gala next spring. Dirk Matthews, interim vice president of Development and Alumni Relations said the money raised will go directly toward supporting the college and student scholarships.
Last year, the college raised more than $640,000 at the annual gala.
Matthews said one of the top goals is making sure that students have access to enough scholarship money to meet their financial needs and to graduate.
“There is a deep commitment to the success of our students, alumni, faculty, staff and our institution by the new administration,” Matthews said.
The college also recently announced a new scholarship partnership with St. Augustine High School, an all male, predominantly Black, Catholic school in New Orleans. The scholarships, which will start next academic year, will award 10 graduating seniors full-ride tuition scholarships, two per academic year, over the course of five years.
The money for the scholarships is coming from institutional funds and not donations, said Emmanuel Lalande, senior vice president of enrollment strategy and student success.
The push to expand scholarships comes as Columbia tries to stabilize declining enrollment and address a $40 million deficit, as previously reported by the Chronicle.
Columbia’s fall enrollment fell by more than 1,000 students, dropping to 4,461 from 5,571 last fall.
Lalande said that despite the college’s deficit, the new scholarship strategy will remain focused on ensuring all students, specifically those with the “greatest financial need,” have access to funds that will support their college education, while also addressing the college’s declining enrollment.
“While budgets are constrained, the college is committed to raising funds through external sources such as fundraising and donor contributions to provide scholarships without worsening the financial situation,” Lalande said.
According to the Office of Institutional Effectiveness, a little over $73 million worth of scholarships were distributed to about 89% of students during the 2024-2025 academic year.
Of the 5,754 students who were enrolled, 5,121 students received an average of $14,372 in scholarships, and during the Spring 2025 semester, students received a 42.1% discount on tuition.
Columbia relies on tuition for the majority of its revenue.
Without disclosing specifics, Lalande said the college’s scholarship strategy will follow Bolton’s “four guiding pillars” to stabilize enrollment, elevate the Columbia brand, strengthen philanthropy and improve operational effectiveness.
“These efforts ensure that we continue to support all students while positioning the college for long-term success,” Lalande said.
Nahyoung Hyun, president of Columbia’s Asian Alliance, said pushing for more scholarships is beneficial and will increase enrollment, especially students of color.
“Many POC students grew up in tough financial situations, me included,” said Hyun, a senior film and television major. “Once I got my scholarships and had some of my financial burden lifted from my shoulders, I was able to focus on my academic goals.”
Oshun Cortez, the representative for Latino Alliance to the Student Organization Council, said that expanding scholarships will create more opportunities for Latino students to afford college, but said that he has some doubts about the plans.
“I am not able to do the FAFSA because of my parents’ background, so my chances to obtain scholarships are slim, ” said Cortez, a sophomore film and television major.
Senior ASL-English Interpretation major Kayleigh McReynolds, who is president of the ASL Club, said additional scholarships will make it possible for more students to attend the college.
Though concerned about Columbia offering more scholarships amid program changes, including ASL, which was cut, McReynolds said she is glad that the college wants to expand.
“Hopefully, Columbia attracts students of many demographics,” she said. “Anyone can be a creative.”
Copy edited by Vanessa Orozco
