The Jefferson Scholars Foundation announced that it recently received a $500,000 "challenge gift" to establish a new John and Betsy Casteen Jefferson Scholarship.
The donation first was announced Jan. 29 at an alumni reception attended by Casteen in New Orleans, at the home of Eli Tulis, an early Foundation backer who has strongly supported the new scholarship in honor of the outgoing president and his wife.
Casteen has been involved with the Jefferson Scholars program since its creation in 1980, when he was the University's dean of admissions. At the time, it was Casteen who suggested the idea to name the prestigious full-ride scholarship after the University's founder, Tulis said.
Thirty years later, Tulis rhetorically asked, "Why in the world don't we have a John and Betsy Casteen Scholarship?"
He, along with Paul Tudor Jones and Lee and Elizabeth Ainslie, were the primary backers behind the new gift, the idea for which Tulis said first occurred to him the morning before the reception. Once he contacted Jones and Lee Ainslie, they quickly drew together plans for the scholarship.
"It took three minutes for [Jones] to jump on board," he said.
Jefferson Scholars Foundation President James Wright said his organization is excited about the opportunity to offer another merit-based award for entering students. Moreover, he expects the gift to be matched in the near future as the new John and Betsy Casteen Scholarship gathers more publicity.
"We are excited about it, and very grateful that people we admire wanted to offer such a fine surprise," Casteen said about the scholarship announcement.
The Jefferson Scholars program has grown considerably since its inception and through Casteen's own tenure as president. Starting with 12 scholarship recipients during the 1980-81 academic year, the program graduated its 400th scholar in 2005, according to the Foundation's Web site.
By honoring high achievers, the program also can help contribute to the University's mission.
"The people who started the Jefferson Scholars program believed that excellence matters for its own sake and also that excellence attracts excellence," Casteen stated.
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