U of M launches major new scholarship program for top performing students with Burton Weil donation

In 1966, Burton Weil earned his MBA from the University of Memphis. Now, nearly six decades after graduating from the institution, he’s giving back to it in a major way.

With support from Weil, founder of the private equity firm Venture Associate Partners, U of M is launching a new scholarship initiative. Called the Weil Scholars program, it’s being funded by the Burton Weil Family Foundation and is set to recruit and reward high-performing students from around the nation.

“It’s a privilege for me to help these outstanding students by providing them with the financial support they need so they can develop their talents and pursue their passions,” Weil said, in a press release. “It is my hope that they will grow to love Memphis as much as I do.”

A big opportunity

In its first year, the Weil Scholars program is expected to provide full tuition coverage to 24 incoming freshman students for the duration of their studies, so long as they remain in good academic standing. It’s also set to provide up to $10,000 a year to several graduate students and students at the University of Memphis Cecil C. Humphreys School of Law.

These initial students won’t be the only ones to benefit from the program, either, as it’s expected to accept more students each year and last in perpetuity. Weil’s contribution has the potential to grow into one of the largest charitable gifts in U of M’s history.

But receiving a Weil scholarship isn’t easy; students must excel academically. For example, to qualify for the undergraduate scholarship, students applying to U of M must have a minimum GPA of 3.5 and be eligible for the Helen Hardin Honors College, as well as a merit-based scholarship. Graduate students applying for the program must have a minimum GPA of 3.75, a nomination from the recruiting department, and an evidenced desire to develop leadership skills.

To be eligible for the award, graduate students must also be studying biomedical engineering, business administration, computer science, data science, engineering, or public health.

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And accepted students ― whether they are at the undergraduate or graduate level ― will be required to take advantage of professional development opportunities.

A recruitment tool

The hope is that the generous funding opportunities offered by the program will help U of M recruit top undergraduate and graduate students, who will, in turn, strengthen the standing of the university. As College of Arts and Sciences dean Abby Parrill said in the release:

“The exceptional students recruited into this enticing program will enhance the U of M’s competitive reputation for excellence.”

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The recruitment of high-caliber graduate students could also help U of M maintain its status as a top research university. In December 2021, U of M received R1 status, a top research designation, from the Carnegie Classification of Institutions of Higher Education. Since then, it’s tried to continue rising in prominence as a research organization, and graduate students ― who typically work with faculty on marquee research projects ― play a key role in this effort.

“The Weil Scholars Program encourages students who are passionate about innovation and leadership to choose the U of M,” said U of M President Bill Hardgrave, in the release. “This initiative, which supports the pillars of our strategic plan, will be instrumental as we continue to distinguish the University of Memphis as a nationally recognized R1 research institution.”

This article originally appeared on Memphis Commercial Appeal: Burton Weil establishes University of Memphis scholarship program