Loyola University Chicago

Alumnus Michael Sullivan (BS ’61) credits much of his success in life to his years at Loyola. So much so that he and his wife, Jean, have generously chosen to give a $1 million gift annuity to the School of Business to bolster scholarship support to deserving students.

“I believe that Loyola has a great mission and a history of providing an excellent education to every one of its students,” says Sullivan, a University trustee. “It’s important for us to support the school by making sure that the educational opportunity I had continues for future generations.”

According to Abol Jalilvand, dean of the School of Business and professor of finance, the scholarship funds will help Loyola attract top students who may not otherwise be able to attend Loyola programs due to financial restraints. “Ultimately, this gift signals a strong vote of confidence for a great Jesuit school of business delivering premier undergraduate and graduate programs in the city of Chicago and nationally,” Jalilvand says.

Growing up on Chicago’s far South Side in the 1950s, Sullivan says his mother was intent on his attending college.

“My mother came from a family with 12 children and was a college graduate at a time when not many women received degrees,” says Sullivan. “She made it her mission in life that I go to a good Catholic school. I chose Loyola by its reputation for academic rigor and for its Jesuit values.”

Sullivan was active in campus life as a member of the business fraternity Delta Sigma Pi. “Our goal was to be the No. 1 student group on campus. We were young and full of energy and wanted to change the world. Our eagerness to succeed stood us well in our business lives after we graduated.”

“My gift will help ensure future generations of Loyola students receive a quality Jesuit education at an affordable price.” —Michael Sullivan (BS ’61)

Sullivan also remembers working his way through school to pay the $1,000-a-year tuition. “Today it would be nearly impossible,” he says. But back then, he took a full load of classes and had two jobs. Sullivan operated his own newspaper stand at 111th and Kedzie and also worked for a heating-oil company after school and on weekends. “Earning about a $100 a week, I made enough to pay tuition and help out at home.”

Sullivan’s career began with Arthur Andersen and Co. and eventually led him to become CEO of a national retail clothing-store chain listed on the NY stock exchange. Today he is a private investor with interests in health care, health and nutritional products, and a metal-forming company. He also is lead director for Constellation Energy Group, a Fortune 125 company with annual sales in excess of $20 billion.

“I’ve been blessed with a great wife, a terrific family, and success in business,” says Sullivan. “I attribute much of my good fortune to my time at Loyola. Those formative years were the building blocks of my career, so I have a great love of the school and am very excited to be able to provide this opportunity to students in need.

According to Sullivan, a Jesuit education is an exceptional education in part because of the way students are taught. “It’s a blending of Catholicism and demanding academics that requires students to be disciplined about their studies. That combination lays the foundation for a lifetime of critical thinking and a push to perform at the top of your ability—to always be challenged and encouraged to do more and be more. It truly is a remarkable education.”