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Gift generates $14 million fund

UH President Renu Khator announced Thursday that an anonymous donor gave UH $7 million with one condition: All $7 million must be used for student scholarships.

Inspired by the humble donor’s moving generosity, the University architected a fundraising campaign to match the gift through the creation of the UH TierOne Scholarship Fund.

‘This extraordinarily generous gift and the fundraising challenge allow UH to respond to a critical economic need. Just as importantly, it helps us make sure that the very best students have the opportunities that they deserve,’ Khator said in a press release.

UH will use the anonymous gift to match new scholarship gifts of $25,000 or more.

When fully realized through the UH TierOne Scholarship Fund, the $7 million donation will give birth to $14 million in scholarships for top-achieving incoming students.

‘Our UH TierOne Scholars will have the funding support they need to participate directly in research projects with faculty, to study abroad and develop a global network of contacts and to make a difference right here in Houston through innovative community service initiatives,’ Antel explained.

Up to 200 freshmen will annually receive TierOne Scholar awards as of spring 2010.

‘We want to recruit future leaders,’ UH Provost John Antel said in an e-mail. ‘The criterion (for the awards) will be a mix of merit and need.’

Matching such a generous donation will be a challenge in a time of such serious economic downturn, Antel said.

‘It could take a few years,’ Antel said. ‘We will work very hard to raise more money to support our students.’

The ambitious gift is mirrored by the ambitious name of the scholarship fund it inspired.

‘TierOne means excellence, and student success is our first strategic priority,’ Antel said. ‘We have to excel in teaching, research,and community service.’

Amid the University’s push to propel itself to flagship status, the gift’s anonymous donor made student scholarships the priority. The University’s main source of student scholarships is its endowment, and the donation comes at a time when UH

System’s endowment has been diminished by almost 30 percent.

‘This money has not depreciated like many of the funds we have held for a longer period,’ Antel said. ‘The principal is still intact.’

Antel said the University will place the $7 million in a holding account while administrators determine exactly how the scholarships will be dispersed.

‘(Administrators) are still working on the precise size of the awards. We want to offer scholarships to as many students as possible, but we are also determined that they really make a difference,’ Antel said.

Though the exact specification of the scholarships are still in their infancy, one thing is certain; the gift will help a lot of Cougars for a long time to come.

‘These scholarships will create a legacy of excellence,’ Khator said in a press release. ‘By helping the brightest minds overcome today’s economic challenges, we will ensure that our students are well-prepared leaders, who can help our society overcome even greater ones in the future.’

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