An additional $35 million in undergraduate scholarships is now available for students of the Frank G. Zarb School of Business. The estate of Charles C. Frei, Hofstra University Class of 1955, made the donation.
© Andrew Legare/Elmira Star-Gazette / USA TODAY NETWORK
(Hempstead, NY) – Following one of the largest gifts in the school’s history, $35 million in undergraduate scholarships are now available to students of Hofstra University’s Frank G. Zarb School of Business. The money was donated by the estate of Charles C. Frei — a member of Hofstra University’s class of 1955.
The $35 million gift ranks as the largest gift ever for Hofstra at the undergraduate level, and the second highest overall. According to the school president, Hofstra will use the funds for an annual scholarship for business students. University President Susan Poser said school officials feel “deeply honored and profoundly grateful for the generosity of our distinguished alumnus Mr. Charles C Frei. This gift marks a transformative moment in Hofstra’s history and Mr. Frei’s legacy will shape the futures of countless students.”
It was in October of 2022 when Frei passed away. After earning a marketing degree from Hofstra he went on to become founder of a capital management firm. Janet Lenaghan, who serves as dean of the Zarb School of Business, expanded further on the gift’s impact: “Mr. Frei’s generous gift solidifies the Frank G. Zarb School of Business as a global leader in business education, The Frei endowment will further empower our students with enhanced resources and opportunities, supporting their preparation as the next generation of business leaders and enabling them to pursue their academic and professional aspirations with greater ease and confidence.”
The school plans to start the scholarships during the 2025-2026 academic year.
