USC Receives $110M Donation For New Scholarship Fund

LOS ANGELES (CBS) — The University of Southern California has received $110 million to fund undergraduate scholarships.

The gift, which is the largest scholarship donation in the university's history, is from USC supporters Julie and John Mork.

The funds will be used to create the USC Mork Family Scholars Program, which will support students studying science, engineering, social sciences, arts and humanities, and other fields, USC President C.L. Max Nikias said.

"Through their exceptional generosity, the Mork family have demonstrated their tremendous passion for higher education, ensuring that the life-changing gift of education will be available to many young men and women now and into the future," Nikias said. "Their gift forever changes the educational landscape at USC, and will help us attract the most talented and deserving students."

The program will assist undergraduate students with four-year scholarships and additional $5,000 living stipends each year.

John Mork is a 1970 graduate of USC with a degree in petroleum engineering. He was elected to the USC Board of Trustees in 2006. He is chief executive officer of the Denver-based Energy Corporation of America.

Julie Mork is a director of Energy Corporation of America, and managing director of the ECA Foundation, a private corporate foundation with a focus on youth and education.

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