Pace University announced last week that it has created a $1 million fund to help honors students in its Lubin School of Business travel and study abroad.
The fund was established by the Figueroa family in memory of Howard Figueroa, who died in 2000 and was an executive with I.B.M. for many years. Although no one in the Figueroa family is a graduate of Pace, the family wanted to support international business education.
“This is a most generous and significant gift which will enable dozens of qualified Lubin students to take part in a study abroad experience which would not have been financially possible without the support of the Figueroa family,” Dean Joseph Baczko said in a statement.
International travel experience is a requirement for those in the honors program, and the fund will help make that requirement affordable for all students.
Magdalena Rybicki, the director of development and alumni relations at Lubin, said that while the fund was established in the amount of $1 million, it is not the same as a $1 million gift. The fund will be paid out annually, and factors like the stock market will determine whether the total amount paid equals $1 million.
— Jennifer Milne
