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Refel Rushing has dedicated his life to giving back to the community and improving the world we live in. This page features some of his charitable projects, press releases, and recognition that he has had over the years.

In the News

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Refel Rushing ’69

The fall of 1967 in San Marcos saw many incoming freshmen students begin their four year journey as undergraduates at Texas State University. One of these incoming freshman was Refel Rushing. As many freshman do, Refel participated in Fraternity rush. Good choice, as the Pi Kappa Alpha Fraternity quickly became an integral part of his life after he was initiated in 1967.Brother Rushing earned his BBA in 1969 and his MBA in 1971 at Texas State University. TSU is very important to Refel as he has served as Advisory Board Member to the President of TSU and to the McCoy College of Business. In addition to this, he is a contributor to the Ralph B. Rushing Texas State University Scholarship program for underserved students from the Lower Rio Grande Valley attending TSU. In 2004, Refel received the Texas State University Distinguished Alumnus Award.

After graduating in 1971, he worked as a bond specialist for both Kidder, Peabody and Co. and Hatcher & Co. He then moved on to become the President and CEO of his own businesses RB Rushing & Co. and Loanstar Funding Group. He also developed the Higher Education Secondary Market Program in Texas and California which became the prototype financing entity for 42 State Agencies and Not For Profit entities operating in the United States. These entities were special public purposes corporations which created financial access for millions of students attending a post secondary educational institution in Texas and across the nation. He has served as a Financial Advisor to many private hospital and medical related companies in connection with tax exempt municipal bond financings.

Giving back to the community and its children is especially important to Refel. He continues to contribute to the 500 member Children’s Chorus of Greater Dallas and the Children’s Theater of Dallas. In addition to this, he served as a special advisory member to the Norman Brinker Committee in connection with the development of the City of Dallas Downtown Arts Center.

These days, Refel is retired and works as a Rancher on his own land. He continues to be a member on the Garnet and Gold Housing Corporation board. Brother Rushing’s love of Pike means that Pike is a 50 year connection with men that are not only brothers, but also friends.

Sunday News - December



Published on Dec 28, 2018  

Saint Michael and All Angels Episcopal Church's weekly publication

Recognized for contributions to Saint Michaels Church

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Bosque Arts Center News 

Recognition for contributions made to Bosque Arts Center 50th Anniversary.

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Italy resident and Texas State University alumnus Refel Rushing recently created a matching entrepreneurship scholarship fund with the McCoy College of Business Foundation at TSU. The Refel Rushing Entrepreneurship Scholarship, with funds totaling $100,000, will provide scholarships to students from South Texas who are attending Texas State University.

“The McCoy College of Business Foundation at Texas State University is proud to partner with alumnus Refel Rushing in establishing the Refel Rushing Entrepreneurship Scholarship.  This scholarship will benefit aspiring business students with an interest in entrepreneurship and honors the life-long commitment of Mr. Rushing in his own entrepreneurial pursuits,” said Kent Hamilton, executive director of the McCoy College of Business Foundation.  “For generations to come, McCoy College students will benefit from the sincere generosity of Mr. Rushing and will experience the impact this scholarship will have on their academic careers.”  

Rushing, who was raised in South Texas, has been a proud member of the Texas State Alumni Association since earning his MBA at the San Marcos university in 1972. He has long been an advocate of providing financial aid in the form of student loans and scholarships to all students needing financial assistance — either to gain access to a postsecondary education or to stay in school to complete their education.

A financial innovator, Rushing distinguished himself for his contributions to student loan financing in Texas and across the United States. He served as President and Chief Executive Officer of LoanSTAR Funding Group, Inc., based in Bryan, Texas, for more than 30 years. Rushing also played a pivotal role in the formation of the Greater Texas Foundation, a public charity dedicated to increasing postsecondary education access for all Texas students and which has awarded more than $104 million in grants since its inception. Rushing served as director of the organization for several years following its establishment and continues to serve as chairman of the foundation board. 

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Both at GTF and in Rushing’s personal philanthropic work within the academic world, his focus has been on assisting students from underserved and socioeconomically disadvantaged communities.

“These students represent the largest segment of the Texas population and will be the future business leaders and educators of tomorrow,” said Rushing. “To assume these important roles, they must be prepared with training and education. In today’s world, it is and will be so important for a student to have credentials from a trade and vocational institution, an associate’s degree from a community college, or a degree from a college or university.”

Rushing’s keen awareness of the importance of relevant credentials and degrees has in part led to his funding of the Refel Rushing Entrepreneurship Scholarship. “It is my hope that these scholarship funds will help deserving students attain credentials and degrees that will in turn help better ensure entrepreneurial choices, job and career opportunities, and educational teaching aspirations — which, hopefully, will lead ultimately to a richer and a higher quality of life.”

Rushing is a recipient of the Distinguished Alumni Award from Texas State University and serves as an advisor to the TSU McCoy College of Business. Rushing lives on his ranch in North Central Texas, where he raises cattle and pursues a host of interests, including song writing. For more information on Rushing, visit

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