February 10, 1998 Contact: Elizabeth Latt 615-322-2706 elizabeth.p.latt@vanderbilt.edu

Central Parking's Monroe Carell Jr.

funds new scholarship program at Vanderbilt

NASHVILLE, Tenn. - Central Parking Corp. CEO Monroe Carell Jr. is establishing a scholarship fund at Vanderbilt for academically sound students with interests outside the classroom and a willingness to balance their studies and a job.

Once fully implemented, the Monroe Carell Family Scholarship Program will provide a total of eight scholarships each year. The first of the full-tuition scholarships will be awarded beginning next fall to two incoming freshmen. Students with demonstrated financial need beyond tuition would be given the opportunity to apply for additional assistance. Tuition at Vanderbilt this academic year is $20,900.

Scholarship winners would work for two months during the summer and a limited number of hours, probably about 6-8 hours a week, during the school year at positions of their choice.

Carell said there are no restrictions on the type of work. "I don't care what it is as long as they have some job-related involvement with the rest of the community. I see this as part of the education and maturing process. It gives them the opportunity to be involved with people outside their family and school environment."

Carell also wants to attract students who have interests in addition to academics. "I want to bring in students who have made contributions outside the classroom - band, drama, sports - things that help round them out. Grades are very important but we want a well-rounded individual. That's important to his or her future."

The Provost's office, with the advice of the dean of undergraduate admissions, will recommend candidates, who will be interviewed by members of the Carell family and others before final selections are made each year.

Carell, who is also chairman of Central Parking Corp., an international parking management and transportation services corporation, received a bachelor of engineering from Vanderbilt in 1959. Throughout his college career, he held a variety of jobs, including work for Central Parking, the Army Corps of Engineers and Western Electric - "any job I could get. It gave me a chance to understand and appreciate other people's situation," he said.

Provost Thomas G. Burish thanked Carell and praised him for his innovation in establishing the scholarship fund. "Mr. Carell has established a scholarship program that reflects both his high standards and his uncommon generosity. The program seeks and rewards students who are dedicated to their studies, committed to making contributions outside the classroom, and willing to work in paid positions to broaden their perspectives and share the cost of a Vanderbilt education. The program teaches as much through its structure as it contributes in financial assistance. The University is deeply grateful to Mr. Carell and his family for this wonderful gift."

Carell credited his chairmanship of the Vanderbilt Board of Trust Budget Committee as well as his interaction with Dr. Burish with motivating him to establish the scholarship fund. "As chairman I learned a great deal about the financial assistance program and the competitive nature of academia for good students. I became very, very interested in Dr. Burish's ideas in this area. I am a great supporter of his thoughts and ideas."

Vanderbilt University is a private research university of approximately 5,800 undergraduates and 4,300 graduate and professional students. Founded in 1873, the University comprises 10 schools, a public policy institute, a distinguished medical center and The Freedom Forum First Amendment Center. Vanderbilt offers undergraduate programs in the liberal arts and sciences, engineering, education and human development, engineering and music, and a full range of graduate and professional degrees.

-VU-

Vanderbilt University is a private research university of approximately 5,900 undergraduates and 4,300 graduate and professional students. Founded in 1873, the University comprises 10 schools, a public policy institute, a distinguished medical center and The Freedom Forum First Amendment Center. Vanderbilt offers undergraduate programs in the liberal arts and sciences, education and human development, engineering and music, and a full range of graduate and professional degrees.

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