Michael Kors launches scholarship with FIT

Michael Kors has the right idea this season. The New York City designer made a gift of $1 million to his alma mater, the Fashion Institute of Technology, to launch the Michael Kors Endowed Scholarship.

Kors attended the school in the ‘70s and, though he dropped out to begin working, he has praised FIT for providing him with a comprehensive design curriculum he deemed “unparalleled.” The designer also applauded the top-notch talent that consistently graduates from the fashion school.

“You have a lot of amazing kids who don’t have the financial wherewithal,” he said to WWD.com. “I felt that it’s more than a scholarship. It’s also mentorship. I love the idea that we’re able to work with them from A to Z.”

Each year, the scholarship will go to a student who demonstrates exceptional talent in fashion design. It will cover the recipient’s entire bachelor’s degree expenses, including tuition, housing and books, and features a mentorship with internship opportunities at Michael Kors.

“This wonderful endowment reflects Michael’s characteristic thoughtfulness, sense of purpose and spirit of generosity,” FIT president Dr. Joyce Brown said. “He is creating an incomparable opportunity for the talented students who come to the college — as he did — to fulfill their dreams. We are deeply grateful.”

The first student to receive the generous scholarship will be decided next summer in time to start the program for fall.