The has announced a $50 million challenge gift from alumni Albert "Ab" ('52, MBA '55) and Nancy ('55) Nicholas in support of scholarships and fellowships.
Awarded through the , the gift will be used to match, on a one-to-one basis, gifts that support undergraduate and athletic scholarships and graduate fellowships. The first three established as part of the match are need-based undergraduate scholarships created by the couple's children, Lynn Nicholas, Sue Nicholas Fasciano, and David Nicholas and his wife, Lori, all of whom graduated from UW-Madison. The gift is the second largest in the university's history, after a $100 million gift last year from John and Tashia Morgridge.
The Nicholases previously have provided support for the , , and . In addition, in 2013 they established the , which provides scholarships to Wisconsin high school basketball players who attend any UW system school.
"The University of Wisconsin holds a special place for Nancy and me," said Albert Nicholas, who had been a scholarship student and a star basketball player. "It's where we met and where our three children and six of our grandchildren have gone to university. I learned the lessons in the classroom and on the court that have fueled my career. And we made lasting friendships and continue to enjoy an amazing alumni experience."