The Gift of Time

Over nearly 40 years, the Terry Foundation has invested more than $100 million in scholarships for Longhorns poised to change the world.

Terry Scholars from across the decades celebrate the Tower lighting in honor of the Terry Foundation.

On a breezy April night in the heart of the Forty Acres, a group of changemakers gathered to celebrate a historic occasion — $100 million in philanthropic investment from the Terry Foundation to support student scholarships at The University of Texas at Austin. For nearly forty years, the Terry Scholars program has provided “full-ride, last-dollar” scholarships to aspiring Longhorns poised to change the world.

Howard Terry, BBA ’38, Distinguished Alumnus — founder of the Terry Foundation alongside his wife, Nancy — lived an extraordinary life. But before protecting his nation in World War II and leading several of the most influential goods and services companies of the 20th century, he enrolled at UT Austin on a $500 full-ride football scholarship in 1934. Throughout his life, he credited that investment for giving him the start he needed to be successful. This is why, in 1987, he and Nancy created The Terry Foundation with a $1.2 million check to provide scholarships for high-potential students who might otherwise struggle to pursue an education at a top-tier four-year university like UT. And with a mission chartered in perpetuity, Terry’s intention and legacy of supporting students will live on for generations to come.

One of the only US foundations dedicated solely to providing scholarships for high-potential students, it’s impossible to communicate the impact the Terry Foundation has made in nearly 2,000 Longhorns’ lives without sharing thoughts and stories from students past and present. As Yvonne Moody, President and CEO at the Terry Foundation shared, “There’s a real humility in Terry Scholars. We aren’t working in our professions to seek fame or glory — we work to serve others.”

Terry and his wife, Nancy, with Terry Scholars.

Christina Ayala

BA, ’25

“I don’t think there’s a single part of my college experience that hasn’t been touched by being a Terry Scholar.”

Working 30-40 hour weeks as a high school senior to afford the idea of attending a local community college, Christina didn’t have much room for uncertainty or exploration. But when she found out she had been selected to join the Terry Scholars, opportunity bloomed.

“Getting this scholarship meant no more being a part time student, no more putting education on hold — it changed everything for me.” At UT, in addition to a full course-load and serving as the president of the Terry Scholars Student Association, Christina has been able to sign up for a 70-day, 4,000-mile bike ride from Austin to Anchorage to raise money for the fight against cancer.

With support from her Terry Foundation community, Christina has secured a position at prestigious consulting firm Deloitte, where she will be working in the supply chain and network operations sector.

Cassidy Franzoi

BA, ’26

“Being a Terry Scholar allowed me to go to a four-year college.”

The Terry Scholars program is much, much more than a scholarship — the Terry Foundation builds and facilitates an entire community that starts before a new student gets to Austin and lasts a lifetime. When thinking back to her first day on campus, Cassidy said, “Coming from a Title I high school in Fort Worth, not many people I knew were coming to UT, and I was afraid I wouldn’t know anybody in Austin. But then I showed up for Terry Scholars orientation and realized I already had 40 friends!”

“Without Terry, if I was able to get to a university at all, I would have been working 30+ hours a week,” Cassidy said. “But because of this scholarship, I’ve been able to build a community of peers, pursue a minor and additional certificates here at school, and get prepared to pursue a high school teaching career once I graduate.”

Jonathan Perez

BA, ’26

“I was driving home after high school one day when I got the call from my Terry coordinator. She asked me, ‘How would you like to go to school for free?’” Jonathan says. “As soon as I got that call, I knew I was going to UT.”

Jonathan said that the Terry Scholars program was responsible for powering his dream of attending a four-year university. And he’s taking full advantage of the opportunity, pursuing leadership positions in his fraternity and taking a dizzying range of courses in government and history from Media and American Democracy to Politics in Japan.

And thanks to the investment in his education, Jonathan will be able to follow his education wherever it leads, whether that’s to consulting, elected office, or non-profit work. “Honestly my big worry coming to UT was maintaining grades — that hasn’t been an issue since the Terry Scholars program has afforded me the time to focus on my classes.”

Alicia Dietrich

Director of Communications,
College of Fine Arts at UT Austin
BJ ’04, Life Member

Being a Terry Scholar doesn’t stop on graduation day. For Alicia, interviewing dozens of young Terry applicants in the twenty years since she graduated has been a rewarding way to give back to the program that provided so much support for her. “It’s amazing to track these students and see what they go on to do — the caliber of these students and the impact they make in their communities is just unparalleled.”

“It meant a great deal to have someone like the Terrys believe in me to invest that much in my education,” Alicia said. “For someone from a small-town high school, the fact that they saw something in me worth bringing to this big university with all these extraordinary people was incredibly meaningful.”

Alicia with her mentee Carson Buffett (BA ’19)

Dan Fen (Tina) Lin

Senior Assurance Officer, Gates Foundation
BBA ’15, MPA ’16

“The Terry Scholarship — a process that started with a letter I received inviting me for an interview — was lifechanging.” As a first-generation student from an immigrant family, Tina has always considered this scholarship to be a substantial investment both in her and her family. “It was a gift I took very seriously — my family and I have always been deeply grateful.”

After earning her business degree and a master’s in professional accounting from McCombs, Tina began her audit career in the for-profit sector. During the pandemic, Tina made an intentional shift to the Gates Foundation, where she now applies her skills in service of a mission she’s passionate about — making a difference in a world that deeply needs it. “I personally benefited from a gift that changed lives one at a time, and now I have the privilege of working for a foundation focused on catalyzing systematic change.”

“Howard Terry’s legacy of opportunity and access to education lives on in every student he supported,” Yvonne Moody shared. “That was always his mission, to develop future leaders of Texas — we think he’s definitely accomplished that.” To find out more about the Terry Scholars and how you can support their journey at UT and beyond, visit terryfoundation.org.

Texas Leader Magazine

More from this series

All Stories

A Bridge to the Past

Nothing brings history to life like a visit to the sites where it happened. Each year, the Frank Denius Normandy Scholar Program in the College of Liberal Arts takes students to locations significant to World War II, connecting them with the past while helping them build a foundation for their future.

From the Ground Up

Opportunities for environmental research and discoveries await at the Hill Country Field Station, a world-changing gift from the Winn Family Foundation.

Finding Allies

With their gift to Dell Medical School, Bob and Kathy Smith are helping UT researchers explore new options for cancer treatment.