Friday, September 27, 2013
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."