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Release: Sept. 30, 2002

Business alumni fund Horatio Alger Iowa Scholars Program

Photo left to right: Henry B. Tippie, John Pappajohn, Marvin Pomerantz

Three prominent alumni from the Henry B. Tippie College of Business at the University of Iowa have funded a new scholars program through the Horatio Alger Association that will provide scholarships to 70 Iowa high school seniors. Each of the Horatio Alger Scholars will receive a $3,000 scholarship to attend the UI. The three alumni, John Pappajohn, Marvin Pomerantz, and Henry B. Tippie, are all members of the Horatio Alger Association and alumni of the Tippie College of Business.

"These young Iowans are an outstanding group of young achievers. They truly represent some of the best that Iowa has to offer," says Henry Tippie. The 70 students are seniors from all parts of the state of Iowa who have exhibited integrity and perseverance in overcoming personal adversity and who aspire to pursue a higher education at the UI. Among the students were many stories of courage, struggle and kindness far beyond their years. Additional criteria for the scholarship include critical financial need, involvement in co-curricular activities and residency in Iowa.

"These young people have had to work hard to overcome some incredible circumstances in their lives," states Marvin Pomerantz. "We want to help them achieve their dream of getting a college education."

This is the first year of the Horatio Alger Iowa Scholars program and many of the scholars applied for their awards online. Applications for the 2003 Horatio Alger Iowa Scholarships are available online at or from high school guidance counselors. Applications for 2003 scholarships will be accepted through Oct. 15, 2002.

According to John Pappajohn, "The Horatio Alger Association has proven itself by helping some of the young people who need it most across the country, not only with scholarships but with financial and educational counseling."

Remarking on the generosity of John Pappajohn, Marvin Pomerantz, and Henry B. Tippie, Horatio Alger President Walter Scott said, "These gentlemen are serious about their commitment to the success of Iowa students. They clearly understand the value of investing in our children's education…taking the time to listen and encourage their hopes and dreams."

The three alumni are all prominent supporters of the Tippie College of Business and the UI. Both Pomerantz and Pappajohn serve on the College's Board of Visitors and the University of Iowa Foundation's Board of Directors.

Pappajohn, who earned his bachelor's degree in commerce from the UI in 1952, is a 1995 recipient of the Horatio Alger Award and president of Equity Dynamics, Inc. Pomerantz, who earned his bachelor's degree in commerce from the UI in 1952, received his Horatio Alger Award in 2000. He is the chairman and CEO of Mid America Group Ltd. Henry B. Tippie, who earned his bachelor's degree in commerce from the UI in 1949, is a 1996 Horatio Alger Award recipient. He is the chairman of the board of Dover Motorsports, Inc. and Dover Downs Gaming & Entertainment, Inc.

The Horatio Alger Association is a non-profit educational association providing more than four million dollars in need-based scholarships around the country each year. For more information on the Horatio Alger Association of Distinguished Americans, visit