LTU College of Business and IT gets largest gift in its history 

SOUTHFIELD—The College of Business and Information Technology (CoBIT) at Lawrence Technological University recently received a $500,000 gift, the largest in its history.

The gift will establish an LTU scholarship, thanks to the generosity of Car Dealers Care National Foundation. The foundation, created by the late entrepreneur and philanthropist Don Foss, is dedicated to enriching the lives of young people with a focus on health and education.

Jill Foss Watson, Mr. Foss’s daughter, and John Neary, CoBIT Advisory Board member, both serve as foundation trustees. They worked together to award the scholarship. LTU’s motto “Theory and Practice” resonated with them as it aligns with the national foundation’s mission.

The scholarship will be used to attract full-time incoming freshmen for the fall 2023 semester who demonstrate academic merit and financial need. Recipients must pursue a major in one of CoBIT’s degree offerings in business administration; accounting; finance; marketing; business data analytics; or information technology.

Students interested in applying for one of these scholarships are encouraged to complete an online application for admission and contact a CoBIT academic advisor at

“We are deeply indebted to the Car Dealers Care National Foundation for this gift, which will transform the lives of future LTU CoBIT students,” said Tarek M. Sobh, LTU president.

“We are proud to support Don’s philanthropic vision through this donation, which we hope will contribute to the success of a new generation of entrepreneurs,” said John Neary.

Car Dealers Care National Foundation was founded in 2016 by Donald A. Foss, founder and former chairman of the auto finance company Credit Acceptance. Mr. Foss passed away Aug. 14, 2022. To learn more about the foundation go to

Lawrence Technological University,, is one of only 13 private, technological, comprehensive doctoral universities in the United States. Located in Southfield, Mich., LTU was founded in 1932, and offers more than 100 programs through its Colleges of Architecture and Design, Arts and Sciences, Business and Information Technology, Engineering, and Health Sciences. PayScale lists Lawrence Tech among the nation’s top 11 percent of universities for alumni salaries. Forbes and The Wall Street Journal rank LTU among the nation’s top 10 percent. U.S. News and World Report lists it in the top tier of best in the Midwest colleges. Students benefit from small class sizes and a real-world, hands-on, “theory and practice” education with an emphasis on leadership. Activities on Lawrence Tech’s 107-acre campus include more than 60 student organizations and NAIA varsity sports.

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