- The University of Miami is establishing a new scholarship program for high-achieving students following a $5 million donation
- Three new scholarships will be awarded: the Opportunity Scholarship, the Merit Scholarship, and a financial assistance law scholarship
- The scholarships can help the University of Miami attract a wider scope of students who may not have been able to afford tuition costs otherwise
The University of Miami (UM) announced this week that it is establishing a new academic scholarship program after receiving a donation of $5 million dollars. The contribution was given by Scott Kornspan and Susan Fleischner Kornspan, a married pair of alumni now working in law in South Florida.
The gift will endow three new scholarship programs: The Scott and Susan Fleischner Kornspan Opportunity Scholarship, a Merit Scholarship, and a Law Scholarship.
The Opportunity Scholarship is designed to help the University attract high-achieving first-generation students, especially those from underrepresented backgrounds with a need for financial assistance, while the Merit Scholarshipmost will be awarded to the most accomplished high school students who have options at other private institutions.
The Law Scholarship was created to ensure that high-scoring first-year law students who require financial assistance are able to remain in the program.
“Being a product of the financial aid system, I always felt that when I got accepted to and attended law school and graduated, part of that process included giving back,” said Fleischner Kornspan. “If my predecessors had not done that, I would not have been able to continue my studies.”
The scholarship fund is the second such donation the couple has made to the university. In 2013, they named the Scott and Susan Fleischner Kornspan Study Lounge, an academic and gathering space in UM’s Student Center.
UM’s law school tuition is among the highest in Florida, clocking in at more than $57,000 annually. Though slightly lower than the law school tuition, UM’s undergraduate costs still eclipse $55,000 each year, pricing out a large portion of the state’s prospective academic recruitment base.
With the scholarship program, the breadth of students that are able to attend the university is expected to expand.
“Scott and Susan Kornspan have made a remarkable difference in students’ lives through their many years of support and service to the University of Miami,” UM President Julio Frenk said. “With this new commitment, that difference will expand exponentially as the students who become Kornspan Scholars go out into the world and multiply the impact of Scott’s and Susan’s philanthropy through their own work and legacies.”