NYU Stern received a $10 million gift that will go towards a scholarship fund for college seniors who wish to pursue their MBAs at Stern after they graduate. The scholarship is named for the donor, William R. Berkley, NYU alumnus and vice chairman of the NYU board of trustees. Berkley’s $10 million gift is part of NYU’s six-year campaign to raise $1 billion for scholarships.
The program provides awardees with “a scholarship that covers the full two-year tuition and fees, provides a housing stipend of $18,000/year, and includes a $10,000/year stipend for books and other expenses. Berkley Scholars will also receive intensive mentoring from the Stern community.” In other words, it covers virtually everything.
“We’re in the dream-enabling business at NYU,” says Peter Henry, NYU Stern’s dean. “With Bill’s support, we have the opportunity to inspire the best young minds around the country and the world to dream big. Whether they’ve studied engineering or economics, physics or philosophy and everything in between, we want to put the tools of business into the hands of the most promising leaders of tomorrow.”
I emailed Jessica Neville, Executive Director of Stern’s Office of Public Affairs, with a few questions. I thought I’d share her answers here:
1. Is this for ANY college senior? In other words do you have to be an undergraduate student at NYU or do you have to be a U.S. resident or citizen? Are there any other restrictions?
Jessica Neville: Yes, domestic and international college seniors are eligible to apply. We are seeking seniors who demonstrate a combination of stellar academic performance and exceptional potential to contribute to business and society.
2. How many students a year (or at least in the first year) do you anticipate will be awarded the scholarship?
JN: The program will be highly selective with a maximum of 10 students per year.
3. Does the student need to start the MBA immediately upon graduate, or is there a deferral option?
JN: There is no deferral option. College seniors will be required to start the Stern full-time MBA program in the fall after graduating from college.
(See NYU’s press release announcing the scholarship for more info.)