Merrill Lynch gives $1 million for Schreyer Honors College scholarships

11/8/2007
The Merrill Lynch & Co. Foundation has committed $1 million to endow four undergraduate scholarships in Penn State's Schreyer Honors College.

Consideration for the Merrill Lynch Honors College Scholarships will be given to students in the college who have earned a high school grade point average of 3.5 or higher, and who contribute to the ethnic or cultural diversity of the student body.

"The funding of these scholarships and the enhanced relationship between Merrill Lynch and the college is in keeping with the vision that William and Joan Schreyer had when they made their gift to establish the college," said Dean Christian M.M. Brady. "Their vision -- to provide the highest level of academic excellence, build global perspective, and foster leadership and civic engagement -- is being realized thanks to Merrill Lynch's support."

William A. Schreyer, Penn State class of 1948, retired as chairman emeritus of Merrill Lynch in 1993. The Schreyers gave $30 million to endow the college in 1997, and in 2006 contributed an additional $25 million.

The foundation is the philanthropic arm of Merrill Lynch & Co., one of the world's leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories. Previous support to Penn State includes a faculty chair in the Smeal College of Business.

Penn State's Schreyer Honors College enrolls about 1,800 undergraduates and affords students exceptional opportunities to engage in research, travel abroad and leadership. Each Schreyer Scholar majors in a program in one of the University's academic colleges and takes any of more than 300 honors courses that emphasize active and in-depth learning. Many Scholars have multiple majors and minors, and their academic career culminates in an honors thesis. The college is widely acknowledged as one of the best in the nation.