Edwin Cox, the major benefactor of the SMU Cox School of Business, surprised business scholars on Friday. Undergraduate business scholars began to fill the lobby of Collins auditorium to hear the news around 9:15 a.m. on Oct. 19. The students received complimentary B.B.A. T-shirts and breakfast while they awaited the end of the Cox executive board meeting.

After much anticipation, the confidential announcement was released. Cox declared his gift of $5 million to the Business Scholars program. But Cox was not the only one to make a pecuniary donation. Chair of the Cox Executive Board John Tolleson also gave $1 million.

Each year approximately 100 business scholars are chosen from the first-year applicant pool. Eligibility is based on test scores as well as potential to succeed as business students. Students invited to participate in the B.B.A Scholars Program follow the same general education curriculum, but are preselected for direct admission to the Cox School as first-year students, thus receiving early access to Cox programs and services.

Over the past six years, the Business Scholars program has changed the face of the Cox School of Business. To continue this increase in excellence, the Executive Board announced its plan to raise a $10 million endowment. With challenge grants from Cox and Tolleson totaling $6 million, the business school hopes to encourage others to get involved with the effort.

The endowment fund will institute a merit scholarship program for undergraduate business students called the Edwin L. Cox B.B.A. Scholars Program. The program was funded to recruit even more academically competitive students to Cox.

“I believe and hope this will move the business school up in the ranks academically,” Cox stated while addressing the B.B.A. scholars. “I am proud of all of you.”

As Cox stepped down from the podium, students thanked him for his leadership and stimulation. Many also wished him a happy birthday.

The Cox School of Business, already among the top undergraduate business institutions worldwide, is said only to get better.

“I am both pleased and excited,” first-year B.B.A. scholar Natalie Bornowski said, “because this donation to the Business Scholars program will better both the business school and the SMU campus.”