Minnesota's largest private university has just become the recipient of the largest reported donation to any college or university in the state, as Best Buy head Richard M. Schulze pledged a $50 million gift to the University of St. Thomas.

The money will be used to strengthen the university's initiatives in entrepreneurial education, provide student financial aid and help in the reopening of St. Thomas' school of law, scheduled for next year.

When talking about why he decided to give the money to St. Thomas, Schulze cited the university's Catholic mission and values, as well as its approach toward teaching entrepreneurship through a blend of theory and application.

"We realize that this institution shares our entrepreneurial approach to life. This is an extremely rare quality among universities," Schulze said. "The people at St. Thomas realize that accomplishment is the product of calculated and managed risk."

At least $5 million of the gift will be used as a challenge grant for the school's alumni fund, which provides financial aid to students. Over 81 percent of St. Thomas' students rely on financial aid to go to college.

Full text of the article is currently found at:
http://department.stthomas.edu/bulletin/news/20008/
Friday/SchulzeGift2_18_00.cfm