The Stern School of Business at New York University has announced a $15 million endowment gift from alumnus Lorenzo Fertitta (MBA '93) and his brother, Frank J. Fertitta III, to create a scholarship and support program for U.S. military veterans and active-duty MBA students.
Beginning with the 2017 summer session, the Fertitta Veterans Program at the Stern School will provide scholarship support to twenty incoming full-time military students that reduces their tuition to a flat $30,000 per year. Students who qualify for veterans benefits, including Yellow Ribbon funding, will continue to be eligible to receive those benefits. The program also will provide academic and professional support customized to ease veterans' transition from the military to business school and, eventually, the business world. The summer session will include an early start on selected coursework, career programming with access to corporations and alumni, and engagement with veteran alumni mentors.
"Our veterans are a greatly valued group among the faculty, their fellow students, and employers," said Raghu Sundaram, vice dean of MBA programs at the Stern School. "We are delighted to be taking an important step towards addressing affordability, an issue on which NYU has placed great emphasis."
"My brother Frank and I have always been committed to assisting those who have proudly served our country," said Lorenzo Fertitta, "and hope our gift encourages many of our military veterans to earn their MBA from my alma mater."