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Brown University Receives $100 Million Gift for Financial Aid

September 15, 2004
 By GREG WINTER 



 

Brown University announced yesterday that it had received
its largest donation ever, $100 million for financial aid,
continuing a series of record-breaking gifts to major
American universities this year. With the gift, Brown will
eliminate loans for its neediest students, much as the
University of Virginia and the University of North Carolina
have committed to doing in the last year. 

Just last week, both the University of Michigan and Tufts
announced that they had received their largest gifts ever,
$100 million and $50 million respectively. Last month,
Stanford also said that it had received a $43.5 million
gift for its law school. 

All of the donations were announced after recent data
showing that large gifts to charitable institutions like
colleges and universities had been accelerating, whether
compared with the early parts of 2004 or with the same
period last year. 

Brown said its $100 million gift was one of the largest
ever given to support financial aid. The donation came from
Sidney E. Frank of New Rochelle, N.Y., who imports liquors
like Jägermeister Liqueur, and created Grey Goose Vodka.
Mr. Frank briefly attended Brown and described the donation
as "something I've wanted to do for a long time.'' 

"I was too poor to complete my education there," said Mr.
Frank, initially a member of the class of 1942. "I only had
enough money to complete a year." 

When in full swing, Brown's program will benefit about 130
students at a time, the university said, all of whom will
be known as Sidney E. Frank Scholars. 

"We hear from the students that loans are the most onerous
part of attending the university," said Ruth J. Simmons,
Brown's president. "It's a strong deterrent to going to
college for low-income families." 

Once under fire for rejecting some qualified applicants
because they could not afford to pay full tuition, Brown
has moved to expand financial aid under Ms. Simmons. 

It has recently switched to what is called a need-blind
admissions policy, meaning that it no longer considers a
student's ability to pay as part of the admissions process.


Ms. Simmons said Mr. Frank's gift would make it easier for
the university to maintain its need-blind admissions
policy, but would also help it go well beyond that
benchmark. 

"Nothing matters as much as financial aid," Ms. Simmons
said. "This really has been the centerpiece of our
priorities." 

http://www.nytimes.com/2004/09/15/education/15brown.html?ex=1096349560&ei=1&en=e919205a899e861f


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