April 30,
2007
Grant endows Alan and Jane Handler Scholars
The University has established a scholarship fund, the
beneficiaries of which will be called the Alan and Jane Handler Scholars,
with a $500,000 grant from the Handler Charitable Trust. Alan and Jane
Handler Scholars will be undergraduates at the University who will be
selected on the basis of outstanding scholarship potential, financial need
because of underprivileged backgrounds, and outstanding potential to be
future leaders.
Each selected student will receive a scholarship that
will cover all University expenses including tuition and fees, room, board,
and books. The scholarship program will support undergraduates in both the
College and the Eastman School.
The grant was made at the recommendation of Martha
and Richard Handler, who have recommended that the Handler family or
Handler family charitable trusts make a grant of $5 million to be paid over
ten years in the form of ten $500,000 annual payments. Richard Handler is a
Class of ’83 graduate, chairman and CEO of Jefferies & Company,
and a University trustee. The scholarship honors his parents.
“My mother and father worked extremely hard to
allow me to reap the benefits of a well-rounded education from the
University of Rochester,” Richard Handler says. “Because of
both of them, today my family is in the position to be able to extend the
privilege of this wonderful education to future generations of students who
have the ability and desire, but perhaps not the means, to attend the
University of Rochester. It means a great deal for my family to be able to
honor my parents while they are both healthy and active so they can enjoy
seeing the next stage of their legacy at this great institution.”
“We are profoundly grateful to Martha and Rich
Handler for their generosity in establishing this extraordinary new
scholarship in honor of Rich’s parents,” says President
Seligman. “It will make possible a Rochester education for students
of great promise who otherwise might have no chance for a university
education at all.”
The Handlers envision that the Handler family or
Handler family charitable trusts will make two $250,000 payments each year,
one to fund Alan and Jane Handler Scholars in the following year and the
other to create an endowment fund for the scholarships. At the end of ten
years, the accumulated grants for endowment and related investment growth
will become endowment principal, the income from which will be used for the
Alan and Jane Handler Scholars program.
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