TOMMY, JULIE, AND BILLY FRIST: New fund supports fellowships and innovation in financial aid.

Photo Courtesy Frist family

Financial aid at HBS has received a $10 million boost, thanks to a $9 million gift from the Thomas F. Frist Jr. Donor Advised Fund of the Nashville-based HCA Foundation and a $1 million gift from the Frist family. The combined gift is the largest to support student aid in the School’s history.

These gifts will establish the Frist Financial Aid Fund at HBS. Drs. Thomas F. Frist Sr. and Thomas F. Frit Jr. were founders of Hospital Corporation of America, a pioneer in the area of for-profit hospital management and the company that established the HCA Foundation. HBS has many ties to the Frist family: Thomas F. Frist III (MBA ’97), William R. Frist (MBA ’01), Julie Damgard Frist (MBA ’97), and Patricia C. and Thomas F. Frist Jr., longtime friends of the School.

Expressing gratitude, Brit K. Dewey (MBA ’96), managing director of MBA Admissions and Financial Aid, said the two gifts will allow the School to continue to innovate to meet student needs. “These gifts will help fund a new loan-assistance program that will allow students to make career choices based on where they want to leave their mark, rather than on their ability to repay loans,” said Dewey, explaining that the program is designed to meet the needs of graduating students (and recent alumni) who accept lower-paying positions in the private sector across the globe.

The combined gift will also fund fellowships for a wide range of students. “Tommy, Julie, and I found the diversity in the HBS classroom to be an important part of our learning,” said Billy Frist. “We met and were influenced by so many great people from different backgrounds. We hope the Frist Financial Aid Fund will give a wide variety of people the chance to experience what we did.”

“HBS has made a significant contribution to our personal and professional lives,” noted Tommy Frist, who cites the friendships, intellectual stimulation, and inspiration to work hard as highlights of his HBS experience. “This combined gift will contribute to the continued success of the School.”

A member of the Campaign Advisory Committee, Thomas Frist Jr. and his wife, Trish, served on the Board of Dean’s Advisors from 1997 to 2003. The Frists’ sons, Tommy and Billy, work at Frist Capital, LLC, a private investment firm in Nashville. Julie Frist, who is married to Tommy, worked at Goldman Sachs and Bruckmann, Rosser, Sherrill & Company and now serves on several nonprofit boards.

In honor of the Frists, the new faculty commons in Baker Library will bear the family name.

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