Loyds Establish $1Million Scholarship Fund

Raymond and Eleanor Loyd
Raymond and Eleanor Loyd

Bringing together an appreciation for his Auburn University engineering education and her love for her hometown, Auburn alumni Raymond and Eleanor Loyd of Louisville, Ky. recently established a $1 million scholarship fund in the Samuel Ginn College of Engineering. The fund provides four-year tuition scholarships, with preference given to students from Eleanor's hometown of Tallassee, Ala., and surrounding Elmore County.

"With the establishment of this scholarship, the Loyds have created a tremendous opportunity for the next generation of engineers," adds Larry Benefield, dean of the College of Engineering. "Scholarships serve as a powerful student recruiting tool, and support of alumni and friends makes those scholarships possible."

Raymond Loyd, a 1961 mechanical engineering graduate, and Eleanor Loyd, a 1959 physical education graduate, met as Auburn students and were married in 1959. While he completed his studies, she taught physical education at Tallassee High School. After graduation, Loyd worked as a design engineer at General Electric in Louisville, Ky., before founding Derby Industries and then Derby Fabricating of Louisville - one of the nation's leading fabricators and converters of non-metallic and insulation components used chiefly in the automotive industry.

For the Loyds, this gift offers a chance to put something back into the institution that helped make them who they are today. For the college, it's an opportunity to recruit a specific group of students who might not otherwise have the chance to pursue an engineering career.

"This scholarship was inspired by the quality education I received at Auburn and by my wife's devotion to and fond memories of Tallassee," Loyd said.

The scholarship recipients are recognized as Loyd Scholars. The Loyds' million dollar investment is structured to be expended over a 20-year period, and will allow many gifted students to pursue the Auburn education that the Loyds so deeply value.

"It is a tremendous honor for a student to receive this remarkable scholarship," said Mary Lynn Saidla, scholarship coordinator for the College of Engineering. "The availability of this scholarship will greatly enhance our recruiting efforts to gain top students from the Tallassee area."