Northwestern University has announced a $50 million estate commitment from trustee and alumnus Jeff Ubben (MBA '87) and his wife, Laurie, in support of scholarships for undergraduate, graduate, and professional school students.
The largest gift ever to the university for financial aid will support the Thrive at Northwestern initiative, which aims to enhance financial aid resources and develop new programs, services, and mentoring opportunities for first-generation college students and students from low- and middle-income families. Over the last ten years, Northwestern has increased enrollment of Pell Grant-eligible students from 12 percent to 21 percent in incoming classes and recently eliminated loans from the financial aid packages of qualifying undergraduate students.
The Ubbens' past giving to Northwestern has included support for the Kellogg School of Management, Northwestern Athletics and Recreation, and the Bienen School of Music, as well as a $5.5 million gift in 2017 to the Institute for Sustainability and Energy at Northwestern to establish the Ubben Program for Climate and Carbon Science. The founder, CEO, and chief investment officer of ValueAct Capital, Jeff Ubben served until 2017 as board chair of the Posse Foundation, where he helped develop Northwestern's partnership with the college access and leadership development program.
"Laurie and I can think of nothing more worthy than to make a Northwestern degree accessible to as many outstanding students as possible," said Ubben.