Abington HS Gets Record $25 Million Donation From Alum

ABINGTON, PA — A record $25 million gift from an alumnus will "transform" the Abington School District, officials said in announcing the historic donation Wednesday.

The gift came from Stephen A. Schwarzman, class of 1965 and the CEO and co-founder of Blackstone, a private equity firm that operates worldwide.

“Ninety percent of America’s youth attend public schools, which means investing in public education yields one of the best returns imaginable — a new generation of creative, capable and collaborative future leaders who are prepared to succeed in the evolving workforce,” Schwarzman said in a statement, according to the district.

The $25 million will be used to create a new science and technology center at the school, while also fully renovating the existing high school building, which dates to the 1950s. The gift will also help the district expand their curriculum, giving students a wider diversity of course selections.

The billionaire Schwarzman, a highly influential figure on Wall Street, made the gift at a conference of school superintendents in Nashville on Wednesday, where he planned to address ways to galvanize private support for public education. In a post announcing the gift, Schwarzman Scholars described it as a "paradigm shift."

“I owe a debt of gratitude to Abington High School, and passionately believe that the next generations of students are entitled to an education that provides the tools needed to prepare them for future success. I call on others to join me and invest in public schools, in an effort to spark a much needed shift in how we support the more than 50 million students receiving a public education today."

At Abington, the gift will mean a restructuring: sixth grade students will move from the district's seven elementary schools to Abington Junior High School, which will become a middle school. Ninth graders, who are currently in the junior high school building, will move to the high school, the district said.

Schwarzman has a history of major gifts: he gave $150 million for a new performing arts center at Yale University, $100 million for renovations at the New York Public Library, and previously gave funding to help build a new stadium at Abington High School.

Further details on Abington's renovations and updates are laid out in schematics here.

AP Photo/Mark Lennihan, File