A $7.5 million gift will allow Earlham College in Richmond to launch a commitment to fund student-faculty research projects and internships for all of its students. The EPIC Advantage initiative will begin with 75 research and internship experiences this summer with full implementation coming in the fall.

The gift from Alan and Peg Kral Scantland, both of whom graduated from Earlham in 1974, will make The EPIC Advantage a permanent feature at the college. Earlham says it will help to ensure that every student has the financial support and opportunity to take advantage of the initiative. 

The EPIC Advantage will help students in a variety of ways, including funding travel and living expenses for students working with companies throughout the world and funding summertime collaborative research efforts.

The gift is the largest alumni gift in Earlham's history and the largest single gift since Indianapolis-based Eli Lilly and Co. (NYSE: LLY) make what was known as the "Magnificent Gift" of $25 million in 1973.

"We are extremely grateful to the Scantlands for their generosity and vision for the future of Earlham," said Earlham President David Dawson. "This gift funds life-changing opportunities for current and future students, and supports the work of our faculty. Earlham is committed to making these experiences possible for all students."

Earlham says the Scantlands' gift will guarantee that all students will be able to take advantage of the initiative, regardless of financial need. A spokesperson for the college tells Inside INdiana Business Earlham is one of three higher education institutions that can make such a guarantee and the only one in the Midwest.