UBS makes gift to need-based scholarship initiative

The University Book Store has joined a faculty fundraising effort for need-based scholarships at UW–Madison.

The UBS executive board announced a gift of $60,000 at the Faculty Senate meeting on April 7. A faculty initiative on behalf of students was approved overwhelmingly at the March Faculty Senate meeting.

Unveiled at the April meeting was a $50,000 gift from the bookstore and $10,000 from William and Signe Buchholz. William Buchholz is a member of the UBS board.

The UW Foundation will match the unrestricted gift, so $120,000 in support will go into the newly created University Book Store Board of Trustees Scholarship Fund.

The UW Foundation Board of Directors has set aside $20 million to match need-based student aid gifts that are not designated to a school or college. Endowment funds of $25,000 or more for need-based scholarship gifts restricted to colleges or similar units are being matched 50 cents on the dollar.

“It has been particularly heartwarming to see the high level of interest in this initiative all over campus,” says Ann Hoyt, professor of consumer science and incoming chair of the University Committee. “We deeply appreciate the generous gift of the University Book Store and the Buchholzes — and the leadership that these gifts demonstrate toward ensuring that students admitted to the UW can follow their dreams.”