TU endowment solidified - WALB.com, Albany News, Weather, Sports

TU endowment solidified

September 08, 2005

Thomasville, Georgia-- A businessman in Thomasville is making sure people get an education even if they can't afford one.

Holiday Inn Express owner, Sharad Patel, gave Thomas University a check for $10,000 on Thursday. It will be put into an endowment for growth. TU will put 80% of the interest each year into scholarships.

Patel says he made the donation for personal reasons. "One of my employees is one of the students of that university, and I learned that way. I found out that we can help them out so we decided to just give that donation to them," he says.

The other 20% of the interest made from the endowment will be reinvested for future scholarships. The first ones will be handed out next year.

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