The Senior Legacy will donate to a graduate school and job visitation/interview fund, International Studies, the Hesburgh Memorial Library or an area of greatest need at the end of the year.
Voting for the Senior Legacy gift will end on Dec. 18 at 11:59 p.m.
Emily Everett, co-chair of the Student Development Committee, said the choices were made based on senior input.
"These are all senior ideas and once we narrowed them down, we got in contact with the various departments to see what they need and if it's feasible," she said.
Ian Secviar, the Student Development Committee's other co-chair, said Notre Dame's level of senior involvement in selecting a gift was unique.
"We take senior input from the beginning which is really different. Hopefully that translates into more participation later on," he said.
Donations to the graduate school and job visitation/interview fund would allow students to visit their potential home after graduation without worrying about the costs, Everett said.
"We all have friends going through the med school and grad school process. It's a really expensive process and we know it's hard for people to afford it," she said.
Andrew Schroeder, a senior, said having a graduate school and job visitation/interview fund would encourage students to apply to universities further away like Berkley or Stanford.
"Notre Dame's obviously trying to make itself more competitive as an undergraduate university and having students go to Stanford, Princeton, etc. will help our undergraduate reputation," he said.
The International Studies fund would provide financial assistance for students studying abroad.
"We didn't want anyone to miss out on this opportunity for financial reasons," Everett said.
Studying abroad was a crucial experience for senior Alex Augugliaro.
"One of the greatest things about Notre Dame is the push to go abroad and if finances are the reason not to, I don't think that should be a limiting factor," he said.
The Hesburgh Memorial Fund would support library renovations and help make Notre Dame's main vein of intellectual material reach the standards of a top-tier institution.
The Area of Greatest Need Fund was included as an additional option for students who would prefer letting the University channel the funds as they see fit.
Money for the gift comes from seniors and their parents. It is recommended that members of the 2010 graduating class continue donating to their class fund after they graduate.
If seniors donate at least $100 by Dec. 31, 2010, they will be eligible for the 2011 football ticket lottery. As 2010 graduates, they are automatically eligible for the 2010 lottery.
Notre Dame ranks among the top schools for total alumni giving but has a significantly lower rate of participation from graduating seniors according to the Senior Legacy Web site.
The Web site reports the percentage of seniors who donate to the University directly impacts Notre Dame's U.S. News and World Report ranking.
This year's senior class hopes to raise more money than the last, Everett said.
"Last year they raised $79,000 and we're trying to exceed that," she said.
The Class of 2009 created the Internship Assistance Fund with their donations. The Class of 2008 created the ECO Fund to further Notre Dame's environmental initiatives.
