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Thomas Varkey |
FINANCIAL AID INITIATIVE
Big Break Begets Another
Thomas Varkey, G92, credits his successful career in finance to one big break: Getting accepted to Tufts.
He had just graduated from college in India in 1989. His father wanted him to be an accountant, but Varkey was determined to pursue a graduate program in economics in the United States.
The year that he applied to graduate schools, the Graduate Record Examination (GRE) was canceled three times because the test had been leaked. With no GRE score, his applications were rejected. Undaunted, Varkey started calling schools to ask them to review his application without the GRE scores. Tufts was the only one that did. The university accepted him into the master’s program in economics and offered him a “full ride,” covering tuition and living expenses.
“My life changed course the day I received that letter from Professor Drusilla Brown,” says Varkey, who would go on to Fidelity, Harvard Business School, and Stonehill Capital Management, where he has been an analyst and partner for fifteen years. “There was no other institution that was willing to take a chance on me.”
To show his gratitude, Varkey has created the Varkey Family Endowed Fellowship. His gift, when matched by the university through the ongoing Financial Aid Initiative, will provide a “full-ride” scholarship for future international graduate students in economics.
At the time Varkey applied, Tufts was developing a premier master’s program in economics, but it had not yet achieved broad name recognition, says Dan Richards, associate professor and chair of economics. “We needed to reach beyond traditional methods to find students who had the ability, training, and motivation to do well and who would pursue productive careers.” Drusilla Brown, then acting director of the graduate program, reviewed Varkey’s application. “She and others helped us land outstanding students like him whom we might otherwise have missed.”
The hard work of faculty and students, plus ongoing philanthropy, has transformed the graduate program in economics. This fall, the department welcomed thirty-three master’s students—a new record.
“All the current and future graduate students stand on the shoulders of those, like Tom Varkey, who came before them,” says Richards. “His generosity in making it possible for many more to follow is truly and deeply appreciated.”
A graduate degree in economics can open doors to a variety of careers, Varkey says. “The Tufts program proved critical in enhancing my understanding of how global markets work, and it gave me a strong foundation in quantitative skills that has helped me become a better investor,” he says. “I also give a lot of credit to great professors who were always flexible around my interests. I remember taking a whole semester’s worth of classes at the Fletcher School.”
He says he is pleased to be able to give another student the opportunity that he had. “For most people like me from India, it was, and still is, just impossible to come here and study without that generous financial aid,” he says. “If this scholarship can help someone achieve their dream, then I will have, in some way, said thank you to Tufts for taking that chance on me twenty-five years ago and making my success possible.” —Laura Ferguson
Double Your Gift. As part of a university-wide drive to boost financial aid, Tufts will match qualifying gifts to endowed scholarships of $100,000 or more. The Tufts Financial Aid Initiative has raised more than $35 million over the past two years, and has been extended through June 2016. The goal: an additional $50 million in new gifts. To learn how to endow a scholarship through the initiative, contact Jeff Winey, senior director of principal and leadership gifts, at 617.627.5468 or jeff.winey@tufts.edu.