Paying it forward

Like many accomplished alumnae, Renee Schultz ’92 has been inspired to give back to Saint Mary’s College to help the next generation of women enjoy the kind of success she has achieved.

Schultz's education at Saint Mary’s gave her the education and skill set to build her impressive career. Most importantly, economics professor Jerry McElroy assisted Schultz in securing a summer internship at a mortgage company during her college years. This internship helped to launch Schultz's career in the mortgage industry. She is now the Senior Vice President of Capital Markets at Fannie Mae. 

Inspired by the doors that Professor McElroy opened for her, Schultz wanted to support Saint Mary’s students with valuable experience, so she established an externship at Fannie Mae for select Saint Mary’s students over fall or spring breaks. Once students have completed the externship, they have the opportunity to complete a full summer internship with Fannie Mae’s own program with the potential for full-employment after graduation.

Ten students have had the opportunity to participate since the externship began in spring 2017, including five students who participated in virtual internships in the summer of 2020. Students have the opportunity to meet with women leaders in the company and learn about positions and the industry. Two recent graduates have been hired by Fannie Mae for their first job after Saint Mary’s.

“Housing is the backbone of our economy,” Schultz said. “It’s important to encourage women to explore traditionally male-dominated fields.” And that’s part of what the externship allows students to explore: the world of finance and what it is like to navigate it as a woman.

All of this began thanks to a professor who saw great potential in Schultz. After Professor McElroy passed away in 2014, Schultz honored his memory by establishing an endowed scholarship in his name at Saint Mary’s. She has also set up a bequest to maximize the impact of her gift in the future.

“My parents laid the foundation to who I am as a person and Saint Mary’s prepared me to use those family values for the career that laid ahead,” Schultz said. “I am forever grateful for what I achieved with the encouragement of my family and Saint Mary’s. It is now time for me to give back to others who may not have the same family support, financial means and/or encouragement to stretch their imaginations of who they can become and what they can achieve.”

September 10, 2020