Lawrenceville Family Establishes Scholarship Fund with Estate Gift

Although neither Helen or Carl Banks were graduates of The College of New Jersey,   Lawrenceville residents always admired the institution. And they wanted to help others receive a quality education. So when they prepared their will, they bequeathed their residual estate worth $510,000 residual estate to establish a scholarship fund for students from Lawrence Township students to attend at the College.

When it was received in 2004, it was the largest estate gift received by the College at the time.   It was divided into an operating fund ($125,000) and the Carl and Helen Banks Memorial Scholarship Endowment Fund ($385,000). The operating fund provided immediate assistance to three students from Lawrenceville selected for demonstrated financial need and solid academic credentials. The Endowment Fund became a permanent scholarship fund at the College, awarded to future generations of qualified students.

Mrs. Banks made provisions for the gift both because of her respect for the College and her interest in assisting local students. Throughout her life, she strove to help others. Banks volunteered during World War II at the Switlik Parachute Company, located in Trenton. Her husband Carl, a Lehigh University graduate, worked as a civil engineer. They lived in a century-old home on Lawrence Road in Lawrenceville.

In announcing the bequest, Barbara Gitenstein, president of TCNJ, said, "We are especially honored that the Banks' were so impressed by TCNJ that they chose this institution for such a generous gift."  

Please call The College of New Jersey Gift Planning Office at 609-771-3285, or e-mail jspencer@tcnj.edu for more information.