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AP National Business

Rales Foundation bets big on Carnegie Mellon STEM students

KION
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Published 7:30 AM

By THALIA BEATY
Associated Press

Carnegie Mellon University and the Norman and Ruth Rales Foundation announced Wednesday a $116 million gift to endow scholarships for graduate students studying STEM from groups underrepresented in the fields, including racial minorities, women and first-generation college students. The foundation is named for a home-building supplies entrepreneur and his wife who made a fortune from difficult beginnings. Some 86 students in Master’s and doctoral programs will receive scholarships, stipends and other support at the Pittsburgh-based school starting in 2024. The program is open to U.S. citizens and residents, but not international students. CMU will also invest $34 million in the program.

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