H-E-B leader gifts $5 million to Texas university for future students
The leader of San Antonio’s beloved H-E-B has bestowed a monumental gift upon a historic Texas university.
On November 17, Prairie View A&M University announced that H-E-B chairman Charles Butt— one of America’s favorite CEOs and member of one of Texas’ richest families — has donated $5 million to create Founders Scholarships for incoming PVAMU students.
“The $5 million gift will provide a permanent endowment to support students today and in the coming years,” a release notes. “Initially generating approximately $200,000 a year for scholarships, the fund will grow significantly in coming years, making even more available to support students.”
The scholarships will be available to students from public high schools in Texas graduating in the top quartile of their class, the release says. They must be incoming first-year students, enrolled in a full-time course load, and as scholarship recipients, they will benefit from “enrichment opportunities unique to their [Founders Scholarships] cohort.”
Scholarship disbursements will begin in fall 2022, a spokesperson confirms; the number of initial scholarships available has not been revealed.
“Charles Butt has been amazingly generous to our university. He has shown time and time again that he genuinely cares about the opportunities afforded to students at PV. We are indebted to him for his grace and his humanity,” says Ruth Simmons, president of PVAMU, in the release.
Prairie View A&M University is the second-oldest public institution of higher learning in the state and is one of Texas’ historically Black universities. It is located approximately 50 miles northwest of Houston and has a current enrollment of more than 8,000 undergraduate and graduate students.