Schreibers make largest individual donation in Loyola history

Loyola alumnus John Schreiber and his wife Kathy are donating $100 million to the university to fund scholarships for historically underrepresented students, according to a university press release.

The largest donation in the university’s history, this gift will fully fund “tuition, room, board, and wraparound support services to break down barriers” for Black, Latino, first-generation students and other underrepresented students, according to the press release.

These support services include mentoring beyond just a counsellor, including a link to professional cohort leadership and resident residential counselors. Apart from the tips, the press release says the university plans to create an on-campus pantry and help the families of these students house resources.

“This gift of leadership creates opportunity, renews hope, and begins to holistically address and remove systemic barriers to student success and opportunity while inspiring others to action,” President Jo Ann Rooney wrote in an email to students and community members.

This donation is the first step in a plan to establish a restricted $500 million portion of the university’s endowment to make these resources a permanent feature of Loyola’s undergraduate programs. It is intended to help hundreds of students each year, according to the press release.

That $500 million would be half of the university’s current $1 billion endowment, The Phoenix previously reported. Wayne Magdziarz, senior vice president, chief financial officer and chief commercial officer of Loyola, described the university as “tuition dependent” and explained that tuition money funds 95% of scholarships awarded.

John Schreiber graduated from Loyola in 1968 and has served on the board since 2014. He founded the real estate investment management business of the New York-based Blackstone Group.

“Kathy and I have felt called to help level the playing field for students who face much higher barriers to opportunity and to give these students access to an education at Loyola that provides unlimited opportunities for their future,” Schreiber said in the press release.

The Schribers are a longtime supporter of Loyola and are the namesake of the Schreiber Center which houses the Quinlan School of Business at the Water Tower Campus. They also supported Loyola’s Arrupe College, which is a two-year debt minimization program.

This donation will be effective in the fall semester of Loyola’s 2022-2023 academic year.

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