Johns Hopkins University receives the largest academic donation in American history.
On Sunday university officials announced the $1.8 billion dollar contribution gifted by former New York City Mayor, Michael R. Bloomberg.
The historic financial commitment will be devoted exclusively to undergraduate financial aid, allowing for the university to permanently commit to need blind admissions, in an effort to eliminate the need for student loans in financial aid packages.
Prior to this unprecedented announcement, Bloomberg over his lifetime had given $6.4 billion to philanthropic causes.
