Family donates $10 million to St. Thomasby Art Hughes, Minnesota Public Radio
St. Paul, Minn. — A $10 million gift from a St. Paul couple will provide scholarships to University of St. Thomas students.
The donation from Eugene and Mary Frey will fund scholarships for students with certain barriers to college. The award will favor students of color, immigrants, and students with physical disabilities.
St. Thomas Development Director Steve Hepner says the gift will establish a long standing endowment.
"The $10 million will be invested and so it will be here in perpetuity. In any given year that will provide close to a half million dollars worth of scholarships," Hepner said.
Eugene Frey attended St. Thomas in 1948. He joined the board of trustees 20 years ago. He contributed money to the university previously for building construction. He made his fortune with Waldorf Paper Products in St. Paul.