$5 million Lord gift endows dean's chair at Penn State Abington
Tuesday, February 3, 2004
Abington, Pa. -- Penn State Abington has received a $5 million gift to endow a dean’s chair, the first of its kind to be created at any of Penn State’s campus colleges. The donation came from Albert and Suzanne Lord, a couple with close ties to the Abington campus. Albert Lord, a Penn State alumnus, is vice chairman and chief executive officer of Reston, Va.-based SLM Corp. -- better known as Sallie Mae, the nation’s leading source of student financial aid for higher education. “This gift will give the Abington campus a permanent source of flexible funding that can be directed strategically as opportunities arise, and as campus needs change over time,” said University President Graham B. Spanier. “We are grateful to Al and Suzanne for their extraordinary generosity and for their many years of loyal support to Penn State Abington College.” Albert Lord spent the first two years of his college career at the Abington campus. He graduated from Penn State with a bachelor’s degree in accounting in 1967 and has been with Sallie Mae since 1981. Suzanne Lord served as a staff member at the Abington campus. Income from the endowment can be directed in many different ways, according to Karen Wiley Sandler, Penn State Abington dean and campus executive officer. “We plan to expand learning opportunities for first- and second-year students,” she noted. “Examples might include mentoring programs and special workshops to enhance the career-readiness of our students, or establishing new courses and innovative teaching strategies that address students’ changing career needs and interests. We also could direct support to renovating lab space and purchasing new equipment, attracting distinguished visiting professors -- there are so many possibilities. The endowment will allow Penn State Abington College to continue as a vibrant and dynamic educational force in the Philadelphia region.” Income from deans’ chairs is not used for salary supplements for the holders of the chair.
“I probably could not have not attended Penn State if it were not for the Abington campus,” Albert Lord said. “I was able to live at home, work part-time, and still get an affordable, high-quality education that challenged me and helped to prepare me for a career. Suzanne and I are pleased to give back in a way that will help future generations of students.” The Lords, who reside in northern Virginia, have long been involved as volunteers on behalf of Penn State Abington. Albert Lord is a member of the campus advisory board. Their previous philanthropy to the Abington campus, with corporate matching from Sallie Mae, includes gifts to create a career development endowment for promising junior faculty and to help fund renovations to the Lares Student Union Building. Albert Lord is a Distinguished Alumnus, the highest honor Penn State can bestow on a graduate. Penn State Abington also recognized his professional accomplishments by naming him an Alumni Fellow. As a volunteer, he served as a member of the leadership gifts committee of the Grand Destiny campaign, a seven-year effort that secured $1.37 billion in private support for the University. Lord is currently a member of the National Council on Penn State Philanthropy, the University’s top fund-raising advisory body. The Dean’s Chair at Penn State Abington is the fourth dean’s chair to be endowed University-wide. The Abington campus enrolls nearly 3,300 students and has been a part of Penn State since its founding in 1950 as the Ogontz campus.