Friday, September 27, 2013

$10 Million Gifts for Full Scholarships at Chicago Law

Here's a story that warms my heart:

The National Law Journal is reporting that one student in 10 in the University of Chicago Law School’s next three incoming  classes will graduate without the burden of education loans because of a  serially generous donor.  David Ruberstein, co-founder of private equity firm The Carlyle Group and a University of Chicago trustee, has given $10 million to his alma  mater to support as many as 60 full-ride scholarships during the next three  years (equal to approximately 10 percent of each class).

This is the second time in three years that Ruberstein has given $10 million to the school.  In 2010, he gave $10 million to establish the Rubenstein Scholars Program, which offered merit-based,  full-tuition scholarships to students for the past three years. At the time, it  was the largest donation in the law school’s history. This new gift renews that  program.

Commenting on the gift, Chicago Law dean, Michael Schill, said: "David’s generosity is absolutely extraordinary, and his gift has been  transformative.  Three years ago, when David proposed  this idea, we all hoped that it would enable us to attract the top law school  applicants in the nation to Chicago. With three years of experience under our  belt, I can say without hesitation that it has succeeded magnificently.”

According to the National Law Journal, "Rubenstein graduated from the law school in 1973, the beneficiary of a full  scholarship that he said allowed him to leave a law firm practice after two  years to pursue his interest in politics."


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