Loyola has announced that it will receive $1 million from the Goizueta Foundation. The grant, which was written by Dean of Institutional Advancement Debbie Steiffel, is designated to establish and endow the Goizueta Foundation Scholars Fund to provide need-based scholarship assistance annually for Hispanic/Latino students whose families reside in the United States.

Cathy Simoneaux, director of Financial Aid, said that the money they will receive is more than was expected. The money is payable in December 2002, she said.

According to the Goizueta Foundation’s official Web site, its purpose is “to assist organizations that empower individuals and families through educational opportunities to improve the quality of their lives.” It was established in 1992 by Roberto Goizueta, a Cuban native, graduate of Yale University, and longtime employee of Coca-Cola Company.

Goizueta established the foundation to provide financial aid to educational and charitable institutions. It is a private, general purpose, grant-making foundation with a “focus on grant-making for the greatest possible impact by concentrating on those problems on which they believe have long-term impact and sustainable change.”