The Stern School of Business at New York University has received $5.75 million from alumnus Leonard Stern. This gift will go towards the establishment of The Leonard N. Stern New York City Scholarship. The scholarship will provide support to exceptional New York City high-school seniors who aim to study business at NYU but are lacking the financial means to do so.
The scholarship will provide 10 high-achieving, ow-income students from New York City, who have already been admitted to NYU Stern’s Undergraduate College the financial support to complete their education with out the burden of debt from loans and other financial support. The scholarship fund will support 40 students over four years. This gift was part of NYU’s “Momentum Campaign”, which aims to raise $1 billion in six years for scholarships at NYU.
Leonard Stern is Chairman and CEO of The Hartz Group. The Hartz Group is currently one of America’s largest private owners of commercial real estate. In addition to this financial gift, Stern also provided his landmark $30 million gift in 1982 enabled NYU to consolidate its graduate and undergraduate business education facilities at Washington Square. Mr. Stern also founded and now serves as Chairman of Homes for the Homeless, the largest non-profit provider of residential, education and employment training centers in the country.
The scholarship award will be given to New York City-based students with high financial need, as determined by federal aid guidelines. Students who receive the scholarship will be named “Stern NYC Scholars”. Stern NYC Scholars will receive the typical financial aid package that NYU is able to offer students from low-income backgrounds as well as be provided with additional funds to cover the full cost associated with enrollment in Stern’s Undergraduate College. Stern NYC Scholars will also receive funding for housing and books as well as benefit from assistance in summer job placement.