The University of California, Los Angeles has announced a $10 million gift from Steve Tisch to establish scholarships for undergraduates, with a focus on students from middle-income families.
Half of the gift will be distributed over the next five years to provide four-year scholarships to students whose family income is too high to qualify for grant aid but not enough to cover the full cost of a UCLA education, beginning with the freshman class entering next fall. The remainder of the gift will be used to create an endowed fund to ensure the scholarship program's sustainability and challenge other donors to create similar scholarship funds. According to UCLA, while a student from a middle-income family typically might receive a scholarship of $1,300 to $5,200 a year from the state, that covers only 3 percent to 15 percent of the annual cost of attending the university.
An award-winning film and television producer, Tisch co-owns and serves as chair of the New York Giants. His previous support of UCLA includes a $10 million gift in 2014 to establish the UCLA Steve Tisch BrainSPORT Program.
"We know a college education provides individuals with long-term financial benefits, as well as making them more well-rounded and engaged in their communities," said Tisch. "But as the cost of college continues to climb, it is becoming more difficult for many hardworking middle-class families to attain. It is an honor for me to help provide opportunities for young women and men to access the value and experience of a UCLA education and positively impact the trajectory of their lives."