Dr. Ora Pescovitz, the president of Oakland University (OU) based in Rochester, Michigan, has donated $1 million to the institution she leads. The gift will support scholarships for students expected to become business, community, and civic leaders.
"These are the kids that go on to do remarkable things, change the world," said Pescovitz in The Detroit News, a local publication. "I want to attract students who may not be thinking about Oakland. We have so much to offer them."
Called the Pescovitz Presidential Scholarship, OU's Honors College will administer the scholarship to about four to five students per year at the start. In four years, the scholarship's endowment is expected to support about 16 to 20 students a year to study at OU.
"This magnificent new scholarship has the potential to change the world for the better through students right here on our campus," said Dr. Graeme Harper, dean of OU's Honors College.
With this gift, Pescovitz has donated a total of $1.78 million to the university during her time as president. She created two endowments with gifts and commitments of $500,000 earlier this year. In 2020, Pescovitz additionally created a third endowment with a $25,000 gift. Before OU, Pescovitz served as senior vice president and U.S. medical leader at Lilly Biomedicines for Eli Lilly and Company.