Chestertown – December 11, 2017
The Hodson Trust, whose generosity has supported hundreds of Washington College students over 81 years, this year is donating $3.5 million to endow student scholarships. Representatives of the Trust, which has been the largest single benefactor to the College, presented the gift to College President Kurt Landgraf on December 7, 2017.
“It is hard to overstate how critical this funding is for our students and programs, and how much we appreciate the loyal support that The Hodson Trust continues to show Washington College,” Landgraf says. “We believe that the education and opportunities we offer to undergraduates are unparalleled, and we are grateful to Chairman Gerald Holm and the Hodson trustees for seeing that value and consistently supporting it with this endowment funding.”
This year’s donation provides $2.75 million to the Hodson Merit Scholarship endowment, and $750,000 to the George’s Brigade scholarship endowment. Already this academic year, as a result of previous Hodson gifts, 105 students are receiving an average merit scholarship in the amount of $21,000, for a total of $2.2 million from Hodson Trust-funded scholarship endowments.
“The need is great,” Landgraf says. “Gifts such as this generous scholarship funding from The Hodson Trust are invaluable for our students in their ambition to attain the strong foundation that a college education in the liberal arts and sciences provides.”
The Hodson Trust is the school’s largest single benefactor. Starting with a grant of $18,191.12 in 1935, the Trust has given Washington College nearly $80 million. The Trust that was established in 1920 by the family of Colonel Clarence Hodson benefits four Maryland educational institutions: Washington College, Hood College, St. John’s College of Annapolis, and The Johns Hopkins University. Colonel Hodson, who received the honorary degree, Doctor of Laws, from Washington College in 1922, served on the College’s Board of Visitors and Governors from 1920 until his death in 1928.
Colonel Hodson, who grew up in Somerset County, Maryland, founded the Beneficial Loan Society to make small loans available to working-class Americans at affordable interest rates. This groundbreaking business grew into the Beneficial Corporation, one of the largest consumer finance companies in the United States. An initial investment of $100 grew over the ensuing decades into a trust that has awarded more than $240 million to the four beneficiary institutions. For more information, visit www.hodsontrust.org.