LOYOLA UNIVERSITY CHICAGO ANNOUNCES $100M GIFT

 LOYOLA UNIVERSITY CHICAGO ANNOUNCES $100M GIFT

CHICAGO, Ill. – June 2, Loyola University Chicago today announced a $100 million gift–the largest individual gift in the University’s history– from John and Kathy Schreiber to fund full scholarships, room and board, and an array of comprehensive support services for aspiring Black, Latino, first generation, and other ethnically and racially diverse students who are historically underrepresented in higher education.

Together, the University and the Schreibers aspire to create a new, $500 million restricted portion of the University’s endowment that would make
these resources permanent–empowering students to attend and successfully graduate from Loyola for generations to come. The Schreibers’ gift is the foundational investment in this planned program, which aims to fund hundreds of students a year when fully funded.

“Students with talent, grit, and promising leadership potential are, far too often, left out of life-changing scholarship opportunities and services
due to circumstances beyond their control. At Loyola Chicago, our Jesuit, Catholic mission is to seek out and support anyone who is traditionally underserved and embrace those willing to work hard and thrive,” said Dr. Jo Ann Rooney, president of Loyola University Chicago. “We are deeply grateful to John and Kathy Schreiber for this transformational investment in the future of promising students.

This leadership gift creates opportunity, renews hope, and begins to holistically address and remove systemic barriers to student success and opportunity while inspiring others to take action.”

The program recognizes that students from under-resourced families may not have others in their lives who have gone to college ahead of them. These students often face steeper challenges to achieve a four-year degree. Loyola is a proven and innovative leader in helping students navigate barriers through the success of its Arrupe College and participation in the Achieving College Excellence (ACE) program. These two different approaches to educating students have demonstrated retention and
graduation rates far beyond the national averages. The program supported by this transformational gift from the Schreibers will fully cover tuition, room,
board, and wraparound support services to remove obstacles that often keep a four-year degree out of reach, including:

1. Mentorship beyond a typical college counselor,
connecting students to professional cohort
leadership, live-in residential counselors, academic
advisors, social work and wellness counselors,
career development advisors, tutoring, peer mentors,
and others who can help support students in
various aspects of their educational journey.

2. Connection to resources students may
need: addressing food insecurity through an
on-campus food pantry; offering housing assistance
and connecting student families to shelters;
and providing other support to ease the stress
students face when families become homeless.

3. A student community/cohort model proven
to be successful in helping students feel a sense of
belonging on campus and begin developing their
own relationships and peer groups. The program
facilitates the development of community through
social events, networking functions, and opportunities
to live together.

“I’ve long been inspired by the pursuit of excellence grounded in a Jesuit, Catholic mission that I’ve seen at Loyola,” said John Schreiber. “Kathy and I felt called to help level the playing field for students who face far higher barriers to opportunities and to give these students access to an education at Loyola that provides limitless possibilities for their futures. We will be working hard over the coming months and years to inspire others to join us in supporting this important effort. We want this to be the centerpiece of an
upcoming comprehensive fundraising campaign that we hope will raise $1 billion for this and other University priorities.”

In addition to the immediate impact, the Schreiber gift is historic in its scale and in its potential to transform students, families, and communities for generations to come. The average difference in lifetime earnings between those with a college degree and those with a high school diploma is
approximately $1 million. Not only do individuals with college degrees earn significantly more and build generational wealth, but research also reveals other meaningful and longer-term societal benefits.

The program will launch in the fall semester of Loyola’s 2022-2023 academic year.

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