Roosevelt was recently gifted $25 million dollars from the estate of the late Rosaline Cohn, and her daughter, the late Marcia Cohn. This marks the largest donation in the school’s 72 year history.
“This magnificent gift will be used to support student scholarships in accordance with Mrs. Rosaline Cohn wishes,” President Malekzadeh said in a statement. “Mrs. Cohn believe in the transformative nature of higher education. She was a long-time friend and supporter of Roosevelt University and for several decades has helped Roosevelt students through the Jacob and Rosaline Cohn Scholarship fund.”
Long time donors of Roosevelt, Mrs. Cohn’s late husband, Jacob, was one of the school’s first contributors, giving $200 to the school in 1945 shortly after opening. An immigrant who began a successful coffee business in Chicago, Mr. Cohn was an annual donor to Roosevelt.
“The purpose is it’s dedicated completely to scholarship funds,” said Dan Jones, vice president of institutional advancement and chief development officer in an interview with the Torch. “It will become part of the Cohn family scholarship fund.”
About $1.2 million will be available for student scholarships as the university will spend approximately five percent each year, according to Jones.
Patricia Harris, chair of Roosevelt’s Board of Trustees, said that the gift will “increase the strength of Roosevelt’s endowment and perpetuate the University’s mission of enabling deserving and talented students to achieve a first rate education. We are overwhelmed with the size and generosity of this gift and are extremely grateful to Mrs. Cohn for her thoughtfulness and devotion to Roosevelt University.”
The donation comes at a time when many students are struggling to obtain the necessary funding to continue their higher education goals due to a decrease in the Illinois Monetary Assistance Program grants, as well as Roosevelt’s continued austerity measures.