Rutgers University President Gives Back $100,000 Bonus: Money Will Be Used for Student Financial Aid

Rutgers University, the flagship state university of New Jersey, recently awarded its president, Richard L. McCormick, with a $25,000 raise and a $100,000 bonus. In a letter to McCormick, the university’s board of governors stated that the bonus was given for “significant progress that has been made under your outstanding leadership.”

McCormick, in turn, donated the entire bonus to the Rutgers University Foundation, where it will be added to the endowment for student financial aid programs.