Gary Krouth, M.D. ’76 and Danielle Krouth Create Need-based Scholarship for Aspiring Physician
When Gary Krouth, M.D. ’76 attended medical school at UC Irvine, he relied on scholarships, loans and his wife’s salary from teaching at a local Catholic school.
“I could not have gone to school without loans and scholarships – it’s that simple,” Gary says.
Now retired, Gary and his wife Danielle Krouth are using planned giving to ease the financial burden for future generations of UC Irvine medical students through the Dr. Gary Krouth and Danielle Krouth Endowed Scholarship.
Gary knew from the time he was 12 years old that he wanted to become a doctor, but finances were a huge obstacle. When he was accepted to UC Santa Barbara, his mother told him she could not afford to help pay for college. So, at age 17, Gary became an emancipated minor, borrowing money and working while earning a bachelor’s in chemistry.
After college, he joined the Peace Corps and taught science in Sierra Leone, where he also worked in the local hospital laboratory and learned first-hand about healthcare in a country where half of the children died before their 5th birthday. It was those real-world experiences that Gary emphasized when he returned to California and applied to medical school while earning a master’s in chemistry at UCSB.
At this point, Gary almost gave up on his longtime dream of becoming a physician. He had accepted a spot at UC Berkeley’s chemistry Ph.D. program and was just about to move when he received the acceptance letter from UC Irvine’s medical school. Elated, Gary and his soon-to-be-wife Danielle, turned around and moved to Orange County.
Ultimately, Gary specialized in internal medicine and returned to Boise to open a private practice, before shifting gears and becoming the medical director for a local insurance company. After several moves, he returned to Boise as an administrator for St. Luke’s Medical Center. Over the years, he became a respected voice in health care in the state, ultimately retiring in 2009 as chief medical officer of St. Luke’s Health System.
The Krouths have traveled extensively, visiting more than 80 countries – their wanderlust driven in part by Gary’s past in the Peace Corps, and their shared curiosity about other cultures and ways of life.
In retirement, the Krouths began planning their charitable giving, initially using their mandatory annual IRA distributions to support causes they care deeply about, including health and education.
“If done right, the distribution can be given directly to charity and will be tax-free,” Gary says.
Recently, the Krouths expanded their impact by creating a bequest to UC Irvine School of Medicine through their will, to support a needs-based scholarship for medical students.
“I never thought I’d have the money to pay back my $7,000 in student loans when I graduated. Now, graduates might have school loans equivalent to a home mortgage,” Gary says. “We want to take some of that financial pressure off of the medical students who are eligible for this scholarship.”
Through their giving now and in the future, the Krouths are helping pave the way for future generations of students from challenging economic backgrounds to pursue a medical education – and their dreams.
*The tax concepts discussed in this article are informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.
