Danks81
15 Sep 2004, 10:04 PM
http://www.cnn.com/2004/EDUCATION/09/15/dropout.gift.reut/index.html
BOSTON, Massachusetts (Reuters) -- A man who dropped out of Brown University decades ago because he couldn't pay the tuition has given the Ivy League college $100 million, its biggest gift ever, which he made by selling liquor.
The Providence, Rhode Island university said it will give the money to its neediest undergraduate students as scholarships, eliminating the need for loans.
Sidney Frank, who built an importing business that distributes liquor, attended Brown more than 60 years ago but could not afford to earn a four-year degree.
Since then he has made a fortune importing drinks like Jaegermeister -- a green, medicinal-tasting German liqueur popular among college students.
Frank said in a statement he wants to help people who cannot afford to attend the 240-year-old private university. Brown charges about $31,000 a year for tuition and fees and $8,000 for room and board.
The neediest students now get financial aid but still borrow on average between $9,000 and $15,000 during their four years, the university said.
Earlier this year, Frank made a $20 million gift to the university's building fund.
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Well that guy lived out a college guy's dream. Now all he has to do is bag the dean's wife.
BOSTON, Massachusetts (Reuters) -- A man who dropped out of Brown University decades ago because he couldn't pay the tuition has given the Ivy League college $100 million, its biggest gift ever, which he made by selling liquor.
The Providence, Rhode Island university said it will give the money to its neediest undergraduate students as scholarships, eliminating the need for loans.
Sidney Frank, who built an importing business that distributes liquor, attended Brown more than 60 years ago but could not afford to earn a four-year degree.
Since then he has made a fortune importing drinks like Jaegermeister -- a green, medicinal-tasting German liqueur popular among college students.
Frank said in a statement he wants to help people who cannot afford to attend the 240-year-old private university. Brown charges about $31,000 a year for tuition and fees and $8,000 for room and board.
The neediest students now get financial aid but still borrow on average between $9,000 and $15,000 during their four years, the university said.
Earlier this year, Frank made a $20 million gift to the university's building fund.
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Well that guy lived out a college guy's dream. Now all he has to do is bag the dean's wife.