Family pledges $25 million gift for Texas business school
March 27, 2013
When college campuses begin construction projects, they have to come up with a lot of funding to be able to complete the efforts to the best of their abilities. This can include looking for investors, lobbying for larger budgets and even raising tuition to cover the costs. However, for the University of Texas at Austin's Red McCombs School of Business, that is not the case for its latest venture.
Robert Rowling, his wife Terry and their family recently pledged $25 million to be put toward the construction of the Robert B. Rowling Hall, which will serve as dorms, conference areas and classrooms for graduate students. Robert, Terry and their son Blake all obtained degrees from the business school, and Robert also served on the university's Board of Regents. This will account for nearly half of the college's goal of $58.25 million.
"This building also helps us plan ahead for continued growth of our influential Texas Executive program, while expanding the breadth of our world-renowned facility," School of Business Dean Thomas Gilligan explained.
Many individuals across the nation have been interested in making donations and gifts to their alma maters. For instance, according to the Columbia Spectator, Philip and Cheryl Milstein recently donated $20 million to Columbia University Medical Center.
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