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BRITAIN-POLITICS-CONSERVATIVES

Source: ANDREW YATES / Getty

Former New York City Mayor Michael Bloomberg will give 1.8 billion dollars in scholarship money to the Johns Hopkins University. The historic gift will be the largest gift to any academic institution in U.S. history.

The gift will be spent entirely for low and middle income scholarships, which will allow the university to offer need-blind admissions permanently and eliminate the need for student loans in financial aid packages.

Bloomberg is a Hopkins alumnus and is considering running for president in 2020. Not the first in his philanthropic gesture, he has donated millions in years past. The School of Public Health at Hopkins already bears his name.

Bloomberg says, “Denying students entry to a college based on their ability to pay undermines equal opportunity. It perpetuates intergenerational poverty. And it strikes at the heart of the American dream: the idea that every person, from every community has the chance to rise based on merit.”

Undergraduate tuition per year, along with room and board at Hopkins is approximately of $70,000, depending on the program.

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