Michael Bloomberg, a former mayor of New York, donated more than 1.5 billion euros to Johns Hopkins University in Baltimore, where he studied. The money is intended for students who can not afford their own study.
According to the university, it is the largest donation ever made, Bloomberg writes in an New York Times.
Money should be used to enable poorer students to study. Loans that students can still take away will soon have to be replaced by donations. This should bring relief to the large student debt that many students have after graduation.
Do not judge by the size of the wallet & # 39;
The grant must also ensure that the university receives a diverse student population. "America is at its best when we reward people based on the quality of their work, not the size of their wallets," Bloomberg writes.
The moment for the donation is not totally random: Bloomberg announced last week that it wants to take part in the presidential election in 2020.
Michael Bloomberg was mayor of New York from 2002 to 2013.
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