A former UW-Madison basketball player has endowed a $50 million scholarship fund that will offer up to 250 Wisconsin high school hoopsters per year a major financial boost to attend college in Wisconsin, it was announced Thursday.
Students who participate in a boys or girls high school basketball program their senior year are eligible. The annual scholarships — $10,000 for four-year programs and $5,000 for two-year programs — are renewable for the length of the program.
Albert “Ab” Nicholas, founder and chairman of the Milwaukee investment firm Nicholas Co., established the scholarship foundation in 2012.
“Our goal is to make higher education accessible and affordable to worthy students, helping them open doors to a better world,” he said.
Nicholas received an athletic scholarship in the 1950s to UW-Madison, where he earned a bachelor’s degree in economics and returned to earn a master’s in business administration.
As a guard on the UW-Madison basketball team, he was twice named all-Big 10. When he graduated, he was the highest-scoring guard in school history, and he was inducted into Wisconsin’s Athletic Hall of Fame in 2010.
Students can apply for this year’s scholarships online beginning Feb. 1 at abnicholasscholars.org (the website is not yet live). Students have until April 30 to file their applications.