BREAKING: The Schreibers Donate Largest Individual Gift In Loyola History

Alexa Galas | The PhoenixJohn and Kathy Schreiber have been regular supporters of the university, with a building named after them at Loyola's Water Tower Campus.

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 gift in university history, this donation will fully fund “tuition, room, board, and wraparound support services to remove obstacles” for Black, Latino, first generation and other underrepresented students, according to the press release.

These support services include mentorship beyond just a counselor, including a connection to professional cohort leadership and live-in residential counselors. Outside of advising, the press release states the university plans on creating an on-campus food pantry and assisting these students’ families to shelter resources.

“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,” 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 $500 million restricted portion of the university’s endowment to make these resources a permanent aspect of Loyola’s undergraduate programs. It is intended to help hundreds of students annually, according to the press release.

This $500 million would be half of the university’s current endowment of $1 billion, The Phoenix previously reported. Wayne Magdziarz, the senior vice president, chief financial officer and chief business officer of Loyola, described the university as “tuition-dependent” and explained tuition money finances 95% of scholarships given out.

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

“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,” Schreiber said in the press release.

The Schribers have long supported Loyola and are the namesake for the Schreiber Center which houses the Quinlan School of Business at Water Tower Campus. They have also supported Loyola’s Arrupe College, which is a two-year program meant to minimize debt.

This donation will go into effect in the fall semester of Loyola’s 2022-2023 academic year.

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