Harvard Business School Receives $12.5 Million for Scholarships

Harvard Business School Receives $12.5 Million for Scholarships

has announced a $12.5 million pledge from alumni Jeannie (Harvard College '88, MBA '92) and Jonathan Lavine (MBA '92) in support of scholarships.

The largest gift to HBS for scholarship aid includes $10 million to match gifts to the Lavine Family Fellowship Challenge Fund; $1 million each to endow the Lavine Family Fellowship and the Herbert J. Bachelor Fellowship, which is named in honor of Jeannie's father (MBA '68); and $500,000 for the HBS Fund, to be used to support the business school's priorities. In tribute to Bachelor, who was the first in his family to go to college and, despite working forty hours a week, accumulated significant debt while attending and HBS, the Lavines have specified that, where possible, the fellowships should be awarded to students who are the first in their families to attend college.

"It was [my father's] dream [to] have his own children be able to attend college without the stress of holding down a job or the added burden of student debt upon graduation," said Jeannie Lavine. "He was able to make that dream come true for my siblings and me, and Jonathan and I would like to pay that forward and give other people the same opportunity, especially those who are the first in their family to attend college. We know that intellect is not distributed based on income, and neither should a top education."

The Lavines previously established the Lavine Family Cornerstone Scholarship Fund for undergraduates and the Lavine Family Humanitarian Studies Initiative at the . Both Jeannie and Jonathan Lavine, a co-managing partner at Bain Capital, serve on dean's advisory boards at HBS and the Chan School of Public Health and also co-chair the latter's capital campaign.

"These gifts are the lifeblood of the institution," said Felix Oberholzer-Gee, senior associate dean of the MBA program. "They allow us to focus exclusively on filling our classrooms with the very best students. Our learning community is enriched by diversity in all its forms, and the fellowships we offer make it possible to bring people here from all walks of life around the globe."