ALMA — Alma College has received a $455,000 grant from the Rollin M. Gerstacker Foundation to provide scholarship support for middle-income students entering in fall 2026, advancing the College’s commitment to making a private, residential liberal arts education accessible to talented students from across Michigan and beyond.
Middle-income students are defined as those who do not qualify for federal or state need-based grants, such as Pell Grants, yet still face meaningful financial pressure when planning for college. These families often earn too much to receive public assistance but experience significant stress about affordability.
At Alma College, we believe a student’s opportunity should be shaped by their ability and ambition — not constrained by financial barriers,
said Joseph L. Odenwald, president of Alma College. We are deeply grateful to the Rollin M. Gerstacker Foundation for investing in students who might otherwise feel that a private liberal arts education is out of reach. This partnership strengthens our mission and expands access in a meaningful way.
The Gerstacker Foundation has a long and proud history with Alma College,
stated Lisa Gerstacker and Bill Schuette, co-presidents of the Rollin M. Gerstacker Foundation. We value Alma’s desire to provide financial assistance to middle-income students. Academic opportunity should not be unreachable. The partnership of the Gerstacker Foundation and Alma College is just one additional approach to ease financial pressure on young women and men hoping to build their futures.
Addressing a Growing Affordability Challenge
Affordability remains one of the most pressing concerns for families considering higher education. According to the 2025 Prospective Family Engagement Report from Ruffalo Noel Levitz:
- 55% of families say paying for college will be “difficult” or “very difficult.”
- 37% of middle-income families report it will be “very difficult” to afford college.
- 74% report stress about taking out loans to finance education.
- 68% say concerns about debt negatively impact college planning.
During the fall 2025 cycle, 438 admitted students from middle-income families chose not to enroll at Alma, with many citing cost as a significant factor in their decision.
When families consider a private liberal arts college, cost is often the first concern,
said Vice President for Enrollment Management Doug Freed. There’s an assumption that private automatically means expensive. But when you look at the data, Alma tells a different story.
According to IPEDS average net price figures — which reflect what students actually pay after financial aid, including room and board — Alma College’s average net price is $24,862, placing it below a variety of public and private institutions in Michigan.
This grant strengthens our ability to demonstrate that Alma is both an exceptional academic experience and a financially realistic choice,
Freed added.
Strengthening the Residential Liberal Arts Experience
As a residential liberal arts college, Alma is committed to close faculty mentorship, undergraduate research, study away opportunities, career preparation, and a vibrant campus community. Philanthropic support plays a critical role in sustaining access to this high-impact educational model.
The Gerstacker Foundation’s investment has already been awarded to qualifying students entering in fall 2026, directly reducing financial strain and increasing confidence for families navigating the college decision process.
Scholarship support of this kind ensures that students can fully engage in the transformative residential experience that defines Alma College,
said Vice President for Advancement Bob Murray ’88. We are grateful for the Foundation’s leadership and their shared commitment to expanding opportunity.
The $455,000 grant reflects a shared belief that expanding access to high-quality higher education strengthens individuals, families, and communities across Michigan.