From a $1,000 loan to a 'life-changing' investment: MacKenzie Scott is finally paying it forward.
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓MacKenzie Scott once needed a $1,000 loan to stay at Princeton University during her sophomore year.
- ✓Her roommate Jeannie Tarkenton helped her then, and years later, Tarkenton founded Funding U.
- ✓Scott now supports this company, which provides loans to students from lower-income backgrounds, by investing in its junior debt.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
Scott reportedly got the loan after her college roommate, Jeannie Tarkenton, found her crying over the possibility of leaving Princeton during her sophomore year. Being a good roommate, Tarkenton asked her father lend Scott some money. Years later, Tarkenton founded Funding U. This is a company that provides students loan to help people from lower-income backgrounds pay for college. Interestingly, Scott also supported this.
MacKenzie Scott is the former wife of Amazon founder Jeff Bezos. But once, a $1,000 loan helped her stay at Princeton University. This incident happened when she was struggling to pay for college. But, the story did not end here. Decades later, Scott went on to support a business started by the same roommate whose family helped her in difficult times.
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The Economic Times
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