Alum’s Gift to Cover In-State Tuition Costs for Four University of Maryland Students per Year

Akash Magoon (B.S. ’18, computer science) who is a member of the College of Behavioral and Social Sciences (BSOS) Board of Visitors, recently made a $180,000 donation to establish undergraduate student scholarships for four students per year.

The need-based scholarships will be awarded to two BSOS students and two Department of Computer Sciences students, with a focus on those who grew up and reside in Baltimore at the time of enrollment. The scholarships will cover each recipient’s tuition costs for one year, with the possibility of being renewed, starting in fall 2024.

Magoon—who is the co-founder and CEO of Adonis, a revenue intelligence and automation platform built to help healthcare providers automate their revenue cycle and payment workflows—decided to create the Magoon Family Current-Use Scholarship in Behavioral and Social Sciences and the Magoon Family Current-Use Scholarship in Computer Science to help Terps from his Baltimore City birthplace afford the opportunity to think outside of the box with regard to their career goals.

“My goal with the scholarship is to help give students the ability to free their mind of the financial burden that comes with paying for college so that they can spend time focusing on finding their true passion,” said Magoon. “I find that when people are going through college, they are always opting for the safest path, whether it's joining a big four consultancy, or one of the big tech companies, or an accounting firm. When students are in debt or need to make a name for themselves, they tend to take the tried-and-true route, but I believe our top minds should become entrepreneurs and innovators,” said Magoon.

Magoon was born in Baltimore City to parents who emigrated from India to the United States in the 1980s. He lived there until he was around eight years old, when his family moved to the suburb Fallston, Md.

That’s when Magoon’s appreciation for Baltimore deepened.

“Despite really enjoying my upbringing in Harford County, I always felt more at home in Baltimore,” he said. “My classroom was much more socioeconomically and ethnically diverse in Baltimore, which made me feel more welcomed and accepted.”

Baltimore’s diversity also opened Magoon’s eyes to how hard some people have to work to advance their careers.

“Witnessing the experience of peers from varying backgrounds during my formative years allowed me to gain an appreciation for how hard it can be to break out of systemic confines that make forward progress challenging,” explained Magoon. “The financial requirements for students needing loans inherently makes higher education inaccessible for students from disadvantaged backgrounds. There's a part of me that has always wanted to find a way to support those with a spark to achieve their full potential.”

This $180,000 gift is the 27-year-old CEO’s first to the University of Maryland. He hopes that by giving, he will not only support and inspire current students, but inspire other young alumni to give at any level, too.

“I think a lot of folks that go on to do great things post-college forget about the things that made them what they are. My hope is that by telling my story, people will realize that the reason they're out there leading a fintech company, or moving up the ladder at Google, or making a name for themselves at a law firm, much of that has to do with where they came from and where they started,” said Magoon. “And frankly, if you went to a state school like the University of Maryland, there was a lot of public money that was spent on you and your campus as well, so this is your opportunity to give back to the community that shaped who you are as a person.”

To make a donation to the Magoon Family Current-Use Scholarship in the Behavioral and Social Sciences, visit go.umd.edu/magoonBSOSfund. To make a donation to the Magoon Family Current-Use Scholarship in Computer Science, visit go.umd.edu/magoonCSfund.

Story by the College of Behavioral and Social Sciences