St. Edward’s University Awarded $5.1 Million in Scholarship Gifts for First-Generation and Under-Resourced Students

AUSTIN, Texas — St. Edward’s is proud to announce it has received $5.1 million in combined funding from two longstanding donors, strengthening the university’s efforts to provide more students with access to transformative education and life enriching opportunities.

Patricia "Pat" Munday, a dedicated supporter and former university trustee, has contributed $4.1 million to St. Edward’s. $3 million will be used to further enhance the impact of The Bill and Patricia Munday Endowed Scholarship. Each year, the scholarship awards up to 25% of tuition for 140 undergraduate students from any major or school — known as Munday Scholars — who demonstrate significant financial need. Since the scholarship’s inception in 2005, nearly 500 Munday Scholars have successfully earned their degrees. 

$1 million of the investment is designated for The Bill Munday Outstanding Business Student Endowed Scholarship, named after Munday’s late husband, Bill. The scholarship, which was established in 2015, benefits high-achieving undergraduate students from the Central Texas area who are enrolled in The Bill Munday School of Business.

The remaining $100 thousand is designated for The St. Edward's Fund Area of Greatest Need.

With this latest gift, the Mundays’ total lifetime giving to St. Edward’s now approaches $55 million, making them the most generous individual donors in university history.

The George and Fay Young Foundation, a longtime advocate for the hilltop since 2008, has given $1 million to establish The Richard Ripley Scholars Program at St. Edward's. The program will provide financial assistance to students with demonstrated financial need and will prioritize first-generation individuals. Starting in the 2026-2027 academic year, Ripley Scholars will receive funding from their sophomore year through graduation.

"We are profoundly grateful to Pat Munday and the George and Fay Young Foundation for their historic generosity. Gifts like these not only honor our core commitment to academic excellence, but also help transform the lives of all of our students as they pursue their academic dreams on the hilltop," said St. Edward’s President Montserrat Fuentes. "This steadfast support ensures that our current and future students will not only achieve academic success but will also forge their paths toward creating meaningful change in their communities, carrying forward the spirit of our Holy Cross legacy.”

The two gifts arrive at a time of continued growth in donor-supported financial aid at the university. This academic year alone, nearly 700 students who represent approximately 24% of all Hilltoppers, received donor-funded scholarships. In addition, the university’s scholarship endowment has grown to more than $154 million, up from $58 million in 2012, representing a 165% increase, according to data reported by Commonfund.

About St. Edward’s University

St. Edward’s University is a private university in the Catholic, Holy Cross tradition with approximately 3,000 students. Located in Austin, Texas, it is one of the top universities in the state and offers more than 55 undergraduate, seven master’s degree programs and a doctorate program. St. Edward’s delivers a premier, highly personalized education that provides students distinctive academics and extensive internships, research and service learning opportunities on a vibrant and inclusive hilltop campus in a world-class city. St. Edward’s has been recognized for 22 consecutive years as one of “America’s Best Colleges” by U.S. News & World Report. In the 2026 Best Colleges rankings, St. Edward’s ranked #5 in the Best Regional Universities in the West.