Loyola University Maryland has received a $5.2 million gift, the largest individual donation in school history, from alumnus Ed Hanway and his wife, Ellen.
Loyola officials said they will use the money to enhance the university's global studies program, make neighborhood improvements in the York Road corridor and create new themed residential programs for first-year students.
"Loyola is at an interesting point in its history, with a solid strategy in place that really cuts to the core of what the university is about — programs and education, not buildings," said Ed Hanway, a 1974 Loyola graduate who went on to become chief executive officer of insurance giant CIGNA. "It requires significant resources to make these strategies realities. I believe it's important to invest in Loyola, its leadership, and their goals."
Hanway, whose son also graduated from Loyola, said he wanted to give back to the university that taught him professional skills and a sense of social responsibility.
"The Hanways' gift supports several programs critical to Loyola's strategic plan, and our overarching goal of becoming the nation's leading Catholic, comprehensive university," said Loyola President Brian F. Linnane in a statement.
The gift will also be used to establish a full-tuition scholarship and an endowed faculty chair.