Martin Lipton, the Chairman of New York University’s Board of Trustees and a founder and partner at the law firm Wachtell, Lipton, Rosen & Katz, and Dr. L. Jay Oliva, the President of New York University, today announced that Wachtell, Lipton, Rosen & Katz will establish a $5 million scholarship fund at NYU to help provide for the dependents of the firefighters, police officers and emergency medical services personnel who lost their lives responding to the World Trade Center tragedy.

For more information, please visit "September 11 Scholarships" at Scholarships and Grants

The fund, to be called the Wachtell, Lipton, Rosen & Katz Scholarship Fund at New York University, will benefit the dependents of those emergency personnel who died as a result of the September 11 attack. The scholarship fund will be used to provide full tuition, room, and board at NYU for the sons and daughters of these brave men and women. Recognizing that firefighters, police officers, and EMS personnel from New Jersey, Connecticut, and other areas beyond the City were among those who lost their lives in the attack, the University will make the scholarships available to not only to New York City residents but to all those who meet the eligibility requirements. Eligibility will be determined by NYU in consultation with the New York City Police Department, the Fire Department of New York, and the Port Authority of New York and New Jersey.

Mr. Lipton said, “Courage has a face, and it can be seen in the valorous and selfless men and women in our city’s emergency services – fire, police, and EMS – who daily run in when the natural instinct is to run out. At no time in our city’s history has that courage and dedication been on greater display than it was on September 11th, and at no time has their commitment to duty come with a higher cost for them or this city. The sacrifice these heroes made on behalf of New York has moved us and humbled us beyond all words. I am gratified that Wachtell, Lipton, Rosen & Katz and New York University can do something that will, perhaps, in some small measure make their families’ sacrifice a little bit lighter.”

Both the principal and the interest on this gift will be used for scholarship awards. By establishing this scholarship fund, NYU and Wachtell, Lipton, Rosen & Katz not only honor those who demonstrated such dedication and generosity of spirit in the face of the World Trade Center tragedy, but also recognize the tremendous role that these individuals and their colleagues play in the life of the greater metropolitan area. Ultimately, should it no longer be necessary to use the scholarship fund for its original purpose, the University would award these scholarships to the children and spouses of firefighters, emergency medical service personnel and members of the police force who otherwise died in the line of duty.

Mr. Lipton said, “Given the great debt that the University and the greater New York community owe these individuals, it is my hope that many other firms will join the University and Wachtell, Lipton, Rosen & Katz in helping to support the children and spouses of those who have provided such essential support to New York.”

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