A former University of Wisconsin men’s basketball star, Albert “Ab” Nicholas, put up $50 million dollars to help future Badgers pay for college.

With rising tuition costs and accumulating amounts of student debt, Ab and Nancy Nicholas pledged $50 million in scholarships for undergraduates, graduate students and student athletes in need of money for their education.

The Nicholas family donation is the second largest donation in UW’s history, second only to the $100 million that was donated last November by the Morgridge family.

Record-setting game along with historic donation makes for an exciting weekend for UW

The donation is meant to inspire other donors to match the Nicholas’ donation and contribute to scholarships as well.

The Nicholas’ two daughters, as well as their son and daughter-in-law, have established the first three need-based scholarships for undergraduates as part of the match.

Ab and Nancy Nicholas met at UW, and their three children and six of their grandchildren also attended UW.

“The University of Wisconsin holds a special place for Nancy and me,” Mr. Nicholas said in a statement. “We are blessed to join with other donors to help deserving students and families have their own Wisconsin experience.”

After graduating from UW with an undergraduate degree in economics and a masters in business administration, Mr. Nicholas went on to become a money manager before establishing the Nicholas Company in Milwaukee.

Additional funding has also been matched by Barry Alverez and his wife, Cindy, as well as men’s basketball coach Bo Ryan and his wife, Kelly; and football coach Paul Chryst and his wife, Robin, who donated money towards three student-athlete scholarships.

In 2013 the Nicholas family established the Ab Nicholas scholarship foundation to provide Wisconsin Basketball players scholarships to any UW system school.

“I just believe in helping these kids get an education,” Mr. Nicholas told the Milwaukee Journal Sentinel in 2013.