Medical scholarships will benefit South Texas/Border Region
An Austin couple has created a scholarship program at the Health Science Center that will have a major impact on health professionals throughout South Texas. The scholarship program, designed specifically to assist students from the South Texas/Border Region, is a long-standing goal of Joe R. and Teresa Lozano Long, who share a deep commitment to philanthropy and education.
Mr. and Mrs. Long have established a foundation that will fund the Joe R. and Teresa Lozano Long Presidential Scholarships in the Medical School. The Joe R. and Teresa Lozano Long Foundation will be operated in conjunction with the Health Science Center. The terms of the foundation allow the Health Science Center to receive more than half of the foundationís annual distribution.
The foundation will make possible six $10,000 scholarships every year. These scholarships will cover tuition, fees, instruments, textbooks and some additional expenses for medical students who need financial assistance. While the initial funding from the foundation will support these six annual scholarships, the Longs have made arrangements for the contributions to the Health Science Center to increase significantly over time.
Joe R. and Teresa Lozano Long are well known for their support of education and the arts. Mrs. Long is a native of South Texas; Mr. Long is a native of East Texas and, in his younger years, spent time in South Texas. Although the Longs came from modest means, they both earned doctoral degrees. Joe Long earned his J.D. from The University of Texas Law School, and Teresa Lozano Long received her Ed.D. from U. T. Austin.
"This is a great country which offers unlimited opportunity to people of limited means and humble backgrounds. Success takes persistence and hard work, but it is possible for all," the Longs agree. "Upward economic mobility can be achieved through education."
After working in the Attorney Generalís Office and in private practice, Joe Long was part of a group that organized two banks in Austin. Ultimately, he became chairman of and acquired control of both banks. In 1988, they acquired seven more banks. In 1998, the Longs sold the combined First State Bank of Austin, with 45 branches, to Norwest Corp.
In addition to her role in the development of First State Bank of Austin, Teresa Long was very involved in support of education. She was a consultant for the U.S. Office of Education on Migrant Education and Head Start Program and a research associate on the staff of the Governorís Committee on Public School Education. She also worked on other statewide education initiatives.
Since selling the First State Bank of Austin, the Longs have enjoyed two shared lovesótravel and philanthropic endeavors. Through the new Joe R. and Teresa Lozano Long Presidential Scholarships, citizens in South Texas will benefit in perpetuity from their generous spirit.