Loyal receives $1 million financial literacy endowment
In 1938, a young man from Loyal was given a $500 gift from a family friend to help him pay for college. Almost 80 years later, he’s repaying that generosity with $1 million.
Official announcement was made in Eau Claire on Sept. 8 of former Loyal resident Eldon Hill’s $1 million Draper Hills Financial Literacy Endowment. The gift to Loyal is in addition to a scholarship fund for Loyal graduates that Hill established three years ago, and that has already given out more than $93,000 to nine local students.
The $1 million endowment is to be managed by the Eau Claire Community Foundation, where Hill — a former Eau Claire physician — is a Legacy Member. Interest from the fund will allow the Loyal School District to start and maintain a financial literacy program for K-12 students, with the mission of teaching youngsters in the community the money lessons Hill had to learn on his own. The school received a $25,000 check last week to partially implement the program in the 2017-18 school year. It will become a fully-funded, full-time permanent program starting in the 2018-19 school year.
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