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UMD Receives $1 Million Pledge to Support Veteran Scholarships

November 16, 2015
Contacts: 

Marsha Guenzler-Stevens 301-405-8505
Jim Rychner 301-314-7918

Pledge will provide aid to student veterans in need at the University of Maryland

Bruce and Avis RichardsCOLLEGE PARK, Md. – Bruce and Avis Richards have pledged $1 million to the University of Maryland to provide scholarships to veteran students at the school. The University of Maryland Avis and Bruce Richards Veteran Scholarship is intended to bridge the funding gap not covered by the G.I. Bill and/or other available financial awards, in order for UMD Veterans to continue their undergraduate educations without financial constraints. The Richards Veterans Scholarship will support tuition, room, board and other related and allowable living expenses veterans incur as they work to complete their undergraduate degrees at Maryland.  To date, this is the largest gift in support of student veterans at the University of Maryland.

“We are so incredibly grateful to Bruce and Avis for their strong commitment to student veterans at the University of Maryland.  Their passion, advocacy and philanthropic support will transform the lives of so many UMD veteran students,” said Linda M. Clement, vice president for student affairs at the University of Maryland.

Veteran students often face family obligations, housing and child-care costs and other financial responsibilities our “traditional” students never encounter. Over 35 percent of our veteran students report they experience a high level of stress about their finances. At the University of Maryland, the average unmet need of veteran students is around $6,000 a year.

"As Americans, we owe everything to these fine men and women who risk their lives to protect our freedom and safety," said Bruce Richards, Chief Executive Officer and Managing Partner of Marathon Asset Management.

Avis Richards ’80 currently serves as a member of the University of Maryland College Park Foundation Board of Trustees and has been actively involved with the University for many years. Bruce Richards currently serves on the board of the University System of Maryland Foundation and graciously volunteers considerable time and expertise to the College Park campus.  Avis and Bruce Richards are committed to the brave men and women who have served our country. The Richards Family has pledged to the creation of this endowed scholarship in support of our University of Maryland veteran students and in tribute to their service.  

Dr. Wallace Loh, President of the University of Maryland will officially announce the gift and publicly thank Avis and Bruce Richards for their generosity at the University of Maryland Veterans Reception on Saturday, November 21 at 10 a.m.

"The University of Maryland prides itself on providing the best services and programs for veterans anywhere in the nation.  The generous gift from Avis and Bruce Richards to support scholarships for student veterans is an extraordinary demonstration of their commitment to both the University and these inspiring students," said Wallace Loh, President of the University of Maryland.