Education Long Island News

Hofstra University Receives $35 Million Gift

Charles Frei, a Hofstra University alumnus from the Class of 1955, has bequeathed $35 million dollars to fund undergraduate scholarships for students in the Frank G. Zarb School of Business. This is the largest gift towards undergraduate education and the second largest gift in the history of the University.

Hofstra will endow scholarships in Mr. Frei’s name to support Zarb students in perpetuity beginning in the 2025-2026 academic year.

“We are 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,” said President Susan Poser.

Frei, who passed away in October 2022, earned his BBA in marketing at Hofstra, where he was also a member of Gamma Rho Epsilon fraternity. A successful businessman, this gift expresses his gratitude to Hofstra for providing him with a well-rounded education.

“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,” said Janet Lenaghan, dean of the Zarb School of Business.