Nov 18, 2018

3. Michael Bloomberg donates $1.8 billion to help Johns Hopkins become "forever need-blind"

Michael Bloomberg, billionaire and former mayor of New York City. Photo: Bill Pugliano/Getty Images)

Former New York City Mayor Michael Bloomberg on Sunday said he’s giving $1.8 billion to his alma mater Johns Hopkins University to provide financial aid to students from low- and middle-income families. This is said to be the largest private gift to a single academic institution.

The details: Bloomberg wrote in an online op-ed for the New York Times that his gift will enable the private university in Baltimore to make its admissions process “forever need-blind; finances will never again factor into decisions. The school will be able to offer more generous levels of financial aid, replacing loans for many students with scholarship grants.” According to a May 2018 report by the Congressional Research Service, Johns Hopkins’ endowment was $3.8 billion.

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Coronavirus dashboard

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Global: Total confirmed cases as of 11 a.m. ET: 883,225 — Total deaths: 44,156 — Total recoveries: 185,377 — Map.
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