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.

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(5) comments

mns3dhm
mns3dhm

Thanks Mr. Nicholas. Keep on Wisconsin!

Prairie75
Prairie75

The generosity is astonishing. The math adds up. A foundation worth $50 million would distribute 5% of its net worth each year. That's $2.5 million. At $10,000 a year (for up to four years for a total of $40,000), that means each year the fund could support 250 people each year, provided its average rate of return is also 5% or more. Check back in 5 years; this sure can't hurt the caliber of basketball all across Wisconsin.

WI4RR
WI4RR

Let me get this straight. This man worked and became successful and earned a lot of money. Now he is choosing to use that money as he sees fit - what a concept! Come on Madison leftists - this is just so wrong isn't it? He should be taxed up the wazoo and gladly turn his dirty wealth over to the government so IT can decide the best way to spend it! Right? That is the fair way, right? I mean, he didn't build anything so why should he be able to spend his money??? I'd suggest you start a protest, bring some drums and some singers and show up at Ab's house and tell him what a louse he is! LOL! What a lesson in economics for you statists!

foodanddrink
foodanddrink

You're an ass hat. Mr. Nichols understands the importance of giving rather than hoarding. Bless him.

No, No, No......Rich people are mean, evil, and bad. They should be taxed more and the gov't should redistribute their wealth for them. We can't have these guys giving piles of their own money away to whomever they choose. Come on Liberals......who's with me?

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