$60-Million Gift Pays for Financial Aid for Juilliard Students

The chairman of the Juilliard School’s board has donated $60-million to the New York conservatory to help a select group of students cover the cost of study and avoid heavy loan repayments after they graduate and enter the musical work force, writes The New York Times.

The donation from Bruce Kovner and his wife, Suzie, immediately establishes fellowships for 25 undergraduate and graduate students covering the full cost of tuition, supplies, and room and board plus a stipend for travel and other expenses. The number of Kovner fellows will be gradually rise to 52 in 2018, with recipients selected from among faculty-chosen nominees.

Mr. Kovner is the chairman of investment firm Caxton Alternative Management and has led the Juilliard board since 2001. He took evening classes at the school in the 1970s and is an accomplished pianist, harpsichordist, and organist, according to Juilliard President Joseph W. Polisi.