An endowed student loan fund that has existed since the 1990s has been converted to a scholarship fund for the benefit of junior and senior students at The University of Alabama. The newly designated Lucille Ryals Thompson Endowed Student Success Scholarship will serve UA upperclassmen who need financial help to either complete their degree or complete it early.
The scholarship prioritizes junior and senior students who have completed at least one year of coursework at UA and demonstrate financial need. The maximum amount a student can receive is equivalent to one year of out-of-state tuition, and the money can be used for anything related to University expenses: tuition, books, supplies, room and board. To apply, students must write an essay explaining their need for financial assistance. Unlike the previous loan fund, the money does not have to be repaid.
Capstone Center for Student Success Executive Director John Wingard said, “There are all types of great students at UA where, unfortunately, the best laid plans fall apart, and they need some support. So this scholarship provides financial support to students who are in good academic standing, working hard inside and out of the classroom, but need just a little help to be able to achieve their goals.”
The Thompson family, who established the initial loan fund with gifts totaling $750,000 in 1991, has a legacy of giving and service to the University. The principal of the endowed scholarship is now $1.75 million, and at the outset, will generate almost $80,000 in scholarships on an annual basis.
Mike Thompson, the former CEO of Thompson Tractor Company and a 2023 inductee to the Alabama Business Hall of Fame, was also the chair of the 1992 UA Capital Campaign. Through this experience, Thompson understood the importance of philanthropy to effect positive change and make a lasting impact. With his wife, Genie, he has supported areas across the University, including multiple initiatives in the Culverhouse College of Business, an endowed professorship in the College of Communication and Information Sciences, a scholarship fund in Genie’s name in the College of Human Environmental Sciences, Crimson Tide Athletics and, most recently, a gift commitment in excess of $1 million for the Alabama REACH Program which benefits UA students who are former foster youth.
When Vice President of Advancement Bob Pierce approached Thompson about converting the loan fund to a scholarship fund, Thompson agreed that the change made sense because some college students “really need help going that last mile.” Thompson said that though his father never completed college, he had immense respect for hard work and dedication, no matter the field, and a great deal of compassion for the average student — not necessarily academically gifted, but dedicated and willing to do the work to complete a college degree. These are the kinds of students the scholarship fund aims to help.
Pierce said, “Most donors focus their charitable support on incoming students, and that is admirable, but what about those students who are plenty smart and are driven to accomplish the goal of a college education yet are met with unforeseen financial difficulties? The resources are not as plentiful for those students, and the Thompsons’ vision to make this endowed scholarship available to this vulnerable group speaks volumes.”
Both the initial loan fund and the new scholarship fund are named in honor of Thompson’s late mother, Lucy Ryals Thompson. Thompson described her as “quiet but strong,” and her husband’s “alter ego,” supporting his business endeavors behind the scenes.
The new scholarship is also administered, in part, by the Office of Student Academic Engagement and Advocacy, which supports students throughout their academic journey. “Beyond simply awarding funds, our office manages the full scholarship process, from promoting the opportunity and guiding students through the application, to coordinating a review committee for thoughtful selection,” said director Dr. Kiara Summerville. “We will also continue engaging with recipients through follow-up meetings to ensure they feel supported and connected as they persist toward graduation.”
“The Thompson family is the epitome of what dedication and commitment should look like,” Pierce said. “They are on their third generation of philanthropic investment at UA. Mike and Genie have evaluated needs across campus and have spread their generosity to multiple important areas such as scholarships, professorships, facilities and program support. They have made a difference at The University of Alabama in more ways than can be counted.”
Applications for the Lucille Ryals Thompson Endowed Student Success Scholarship will reopen Jan. 15.