Trinity University is turning 150.
On Tuesday night, Trinity University officials announced the school would implement a new test-optional policy in its admissions process. Credit: Scott Ball / San Antonio Report

A $1 million contribution from the Financial Literacy of South Texas Foundation will grow Trinity University’s permanent endowment fund.

University President Danny Anderson accepted the gift from foundation board members Karol Sweitzer, Paul Denham, and Philip L. Cooley.

“This investment in our students and programs is vital to the success of our goals in educating the ‘whole student,’” Anderson said Thursday in a news release. “It is even more meaningful that this gift showcases continued support by Dr. Cooley in the University’s business and financial education.”

Business school Dean Robert Scherer will be supervising the allocation of the funds to support the foundation’s goals of educating the larger public about financial literacy. Scherer plans to allocate part of the funds to Trinity’s Financial Literacy Collective or the current personal finance course.

Last month, the Financial Literacy of South Texas Foundation gifted $1 million to Texas A&M University-San Antonio. Those funds went to stipends for students working on financial literacy projects and scholarships for students majoring in accounting and finance.

Laura Morales is a freshman studying journalism at the University of Texas at Austin and a contributor to The Daily Texan.