CMC launches $4 million scholarship campaign |

CMC launches $4 million scholarship campaign

Aspen Times StaffAspen, CO Colorado
Jim Calaway and Bob Young, co-chairmen and lead donors of Colorado Mountain College's $4 million Scholars Campaign. Calaway announced Monday night that Young would join him as the campaign's second $1 million donor. (Ed Kosmicki)

With $2 million in a trust fund already, Colorado Mountain College has launched what is termed the “public phase” of a campaign to raise $4 million for a new scholarship fund.The college district, which spans 12,000 square miles and has 11 locations throughout north-central Colorado, this week announced receipt of a $1 million donation from J. Robert Young of Carbondale, chairman of Alpine Bank.

Young’s donation will augment an earlier donation of $1 million from retired oil company executive Jim Calaway in January 2007, to form the basis of the new trust fund.”With this most generous gift from Bob Young,” said Alexandra Yajko, chief executive officer of the CMC Foundation, “we are now at the halfway point toward that final goal. We are searching out others to join us in helping students to reach their dreams.”With the annual income from the $2 million trust, and a stream of revenue from a number of $25,000 pledges from other individuals, the college plans to begin awarding $2,000 per year to as many as 150 students as early as the fall semester of 2008.

Those who’ve pledged $25,000 so far include Doug and Alexandra Yajko, Nancy Genova, Randi Lowenthal, Mark and Mary Gould, Frances Ginsberg, Jake and Sharon Mascotte, Herb and Kate Feinzig, and Louise, Sandy and Carter Jackson.Other $25,000 pledges are now being sought, said Yajko, either as one-time donations or as pledges with annual payments over a 10-year period.

The scholarships will help students who meet both financial and merit qualifications, Yajko said, including students who are the first in their families to attend college; some will be adults who are going back to school to reach educational goals they’ve put aside. The scholarships are for students living in the area between Parachute and Aspen, where CMC has three campuses: Aspen, Roaring Fork (consisting of Carbondale’s Lappala Center, the Glenwood Springs Center and Spring Valley Center) and the new West Garfield Campus’ EnCana Academic Center near Rifle, which opens in September.