Xavier Magazine

Free Money

Whoever said nothing is free has never met Terry Horan. The president of Horan Associates Inc. has been converting free throws by men’s basketball players into free money for deserving Xavier scholarship students.

For each of the last three seasons, Horan has offered $25 for every free throw completed by a Xavier player during a men’s home basketball game. This year’s total of $7,500–representing far more than the 220 successful free throws at this year’s home games–was presented in the form of a check to athletic director Mike Bobinski at the March 3 senior night game against George Washington University.

“The cost of higher education today is pretty onerous, and this is our way to help some families who might not be able to afford college to get a good education at a Jesuit college, and we think that’s something,” Horan says. “We get something from it in heightened awareness about our company, but we’re also supporting a very fine basketball program. There’s a balance in the Xavier program that appeals to us.”

The money is being split into three $2,500 scholarships for incoming freshman students from southwest Ohio who have excelled in high school and need financial assistance to attend Xavier.

Over the three years, Horan has anteed up about $22,000 in scholarship funds, and he’s signed a contract with the University to keep doing it for another three years. The money is like a barometer of the team’s free-throwing percentages. As the team gets better, the pot gets fuller. And that’s something that all students can appreciate.

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