The News Herald (Willoughby, OH)
Andrews Osborne launches program
Lynn Pippenger believes education is the only way to get anywhere in the world.
Based on that faith, the Florida “self-made” business leader and philanthropist, and descendent of Margaret St. John Andrews, who originally founded what is now Andrews Osborne Academy, is investing in the Willoughby-based private school with a scholarship bearing her name.
On Dec. 13, Andrews Osborne, at 38588 Mentor Ave., launched The Lynn Pippenger College Promise Scholarship. The program was created to incentivize students and families to visualize success at an early age and to encourage families to plan for the high cost of college.
“Lynn has been a longtime supporter of the school and is passionate about providing educational opportunities for children,” said Kim Lobe, the academy’s director of advancement. “She’s been a very good friend to the school. We created the program and she funded it.
“This really sets us apart, because no other school in the area does this. It’s pretty spectacular that we’re thinking so out of the box to offer a program like this.”
The Lynn Pippenger College Promise creates a college scholarship for all fifth-grade students, beginning with the current class. To receive the scholarship, students must be enrolled continuously from fifth through 12th grades. The amount of the scholarship will be equal to 10 percent of the tuition the family has paid through the grade range, with a cap of $15,000.
Starting in the spring of the student’s senior year, Andrews Osborne will make four annual payments to the accredited school to which the student will attend. The college or university can be international. Students may also transfer schools with no threat of losing the scholarship.
Each payment will be equal to one-fourth of the total amount of the scholarship.
The school’s intention is to continue the scholarship program in perpetuity.
Head of School Larry Goodman said Andrews Osborne was very fortunate to find Pippenger.
“We needed to find a donor who’d basically give us a 529 (tax-advantaged savings) plan that we could then use to pay for future generations. Kim went down to Florida and presented the idea, and Lynn liked it. There was no downside. We’re long-term partners with our families and that’s one of our core values. The model of education we’re building here is long-term.
“We can, together, educate in a holistic way, not just reading, writing and arithmetic, so in the spirit of that partnership, and as a tuition-charging school, we conceived this to team up with parents to pay for college,” Goodman added. “It’s fiscally prudent. With the idea, structure and financial commitment, today we start operationalizing the concept, letting parents know this has been set up for their child.”
Scholarship dollars for students leaving Andrews Osborne before graduation will be returned to the general pool to be used for future students.
“We want our students to know early on how strongly we believe in them,” Goodman said. “Additionally, this program strengthens AOA’s ties to the local community as the scholarships will only go to local students. It reinforces one of the foundational tenets of the school — that we should provide an education that enables our students to become self-reliant.”