Professional golfer and University alum John Schroeder is giving back to his alma mater by donating $2.4 million to the University's Athletic Department.
The donation is intended to provide scholarships, job counseling and placement services for student athletes, although the details of its distribution are yet to be determined.
Some of the funds may also go to University golf facilities.
"It's a tremendous gift to the (Athletic) Department," said Wayne Baskerville, director of development for the Athletic Department. "It's a very, very generous gift. We're most appreciative and will use it to the best of our ability as directed by (Schroeder)."
Vice President for Development Thomas Kinnear said he is thankful for Schroeder's generosity. "That's an excellent gift, one the University is delighted to have," Kinnear said. "It's the first gift of that magnitude from a former athlete."
Kinnear said the donation was different from usual gifts to the Athletic Department.
"The nice thing is that a lot of the uses for it support students whereas a lot of the other gifts have been (for) facilities," Kinnear said.
Athletic Director Joe Roberson said it is important to prepare student athletes for the workforce.
"(Schroeder) also is interested in being sure we start earlier than the junior year - teaching them how to write a resume, that kind of thing," Roberson said. "Ninety-eight percent of our student athletes are going to end up having a job just like I do, getting up in the morning just like I do. They think they're going to be pros, and somebody's got to get to them early and make them understand that even if they are pros, it's a 3 1/2-year career."
Bruce Madej, assistant athletic director for media and public relations, also said the donation is a credit to the department.
"It's a planned endowment that John Schroeder has decided to give to the University based on the fact of what a scholarship did for him," Madej said. "The basics still have yet to be worked out, but for the Athletic Department it's shown what a school has done for one individual, and he's hoping what this will do for others."
Student athletes seemed pleased with the news of the new donation to the department.
"I think that's a generous donation, especially what it's going for," said Michelle Smulders, a Business School senior and co-captain of the woman's field hockey team.
Smulders said student athletes are not allowed to hold jobs during the school year and many spend the summer in training, which makes it difficult to work during the summer break. As a result, many student athletes depend on scholarships to pay for University tuition, and many lack significant work experience once out of college.
"For student athletes, it's a necessity, not a luxury," Smulders said, referring to scholarship funds and job placement.
Two facilities for job placement assistance exist for Michigan student athletes: the assistance of Student Adviser Craig Curry and the University's Career Planning & Placement office.
"Craig Curry spends a great deal of time helping our student athletes with the combination of internships as well as trying to get job placements for them," Roberson said. "We've also been trying to take more advantage of the University's placement service.
"John (Schroeder)'s thought is that there are some particular talents and skills that University of Michigan athletes will bring that make them desirable in the market," Roberson said.
"That doesn't really reflect itself very well in the overall University (program)," he said.
-Daily Sports Editor Will McCahill contributed to this report.