University of Pittsburgh
February 18, 1998

PITT ALUMNI ASSOCIATION ESTABLISHES MILLION DOLLAR SCHOLARSHIP FUND

Contact:  412-624-4147

PITTSBURGH, Feb. 19 -- The University of Pittsburgh now has an additional $1 million endowment for student scholarships, thanks to the Pitt Alumni Association. The new fund was announced today at the University's Board of Trustees meeting.

Pitt Alumni Association President Andy Kuzneski presented a check for $1 million to Board Chair J.W. Connolly and Chancellor Mark Nordenberg on behalf of the University's 180,000 alumni. The money to establish the endowment comes from the royalties from the association's new affinity credit card program and are not supported by funds from the operating budget.

"I know how important financial aid can be to a student. I, myself, came to Pitt on an athletic scholarship," Kuzneski said. "We hope this gift of $1 million will be a catalyst for individual alumni worldwide to establish their own endowed scholarship funds to provide much-needed financial support for deserving students at the University."

"This generous scholarship endowment is indicative of the loyalty and innovative thinking of our alumni," Nordenberg said. "All of us at the University are grateful to the Pitt Alumni Association for the many ways in which its members support the mission and goals of the University. This latest example of that support, which will directly benefit our current and future students, demonstrates what a valuable partner the Pitt Alumni Association is in our efforts to preserve and enhance the excellence of our University."

Kuzneski noted that this new endowment would be an addition to the scholarships already offered by the Pitt Alumni Association. In the past six years, the number of those scholarships has risen from four to 61, ranging in value from $500 to $5,000 per year.

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