Crankstart enables students with academic potential, whatever their backgrounds, to benefit from a full Oxford experience without financial constraints.
In 2012, Sir Michael Moritz and Ms Harriet Heyman pledged £75 million for a visionary programme to support undergraduate students at Oxford. At the time, it was the largest ever philanthropic gift for undergraduate financial support in Europe.
With matching from the University, and a challenge to raise an additional £150 million, an unprecedented £300 million is available. The University’s matched funds are invested in the Oxford Endowment Fund through the central University’s shareholding. Successful endowment management is designed to grow this money over the generations, so that the scholars of tomorrow will experience the same financial assistance, after inflation, as those today.
Since 2012 Crankstart Scholarships have benefitted full-time undergraduate students at Oxford from lower income households. Crankstart Scholars represent roughly 5% of all UK and EU undergraduates at Oxford. The programme is open to all academic disciplines with a preference to students studying subjects in Science, Technology, Engineering and Mathematics. Crankstart Scholars receive one of the University’s most generous packages of financial support which includes a tuition fee reduction and a bursary to be used towards living costs.
Alongside financial support, the scholars have access to exclusive internship opportunities as well as an additional internship bursary to enable them to undertake work experience in both the public and private sectors during their degree. Volunteering is another key component of the programme and Crankstart Scholars are expected to complete 25 hours of outreach work to encourage school and college leavers to apply to university, or community volunteering.
‘I feel lucky and very privileged to be a Crankstart Scholar. It has made my time in Oxford far less stressful than it otherwise would have been, which is something I am extremely grateful for. I have been able to not only concentrate on my degree but also participate in two sports (gymnastics and cheerleading) which I love doing.’