Awarded as part of the university's campaign to raise $150 million for scholarships by 2014, the gift will be used to boost the endowment of the ten-year-old Enterprise Holdings Scholars Program, which was established in 2001 with a $25 million grant from the parent company of Enterprise Rent-A-Car, National Car Rental, and Alamo Rent A Car. Since its inception, the scholarship fund has provided financial assistance to nearly two hundred undergraduate students.
Selected for their demonstrated academic merit, leadership skills, character, and commitment to community service, Enterprise Holdings Scholars receive financial assistance that enables them to enroll at the university. Each year, approximately half the scholarships are awarded to students based on criteria established for the John B. Ervin Scholars Program, which seeks to expand the quality and diversity of the university's student body; 10 percent are reserved for St. Louis-area high school graduates and community college transfer students.
"With this extraordinary gift, which matches its own grant ten years ago...Enterprise Holdings once again demonstrates its dedication to expanding opportunities for deserving young scholars from throughout our society," said university chancellor Mark S. Wrighton. "In a real way, Enterprise Holdings is making a major contribution to society that will exist in perpetuity."