Billionaire Michael Bloomberg is donating $1.8 billion to his alma mater, Johns Hopkins University. It's the largest contribution ever made to an education institution in the United States. The stated goal of the donation is to make it easier for low- and middle-income students to attend the college. It will be used as financial aid for undergraduate programs only. In a New York Times op-ed published Sunday, Bloomberg expressed his dismay at the fact that financial resources are an obstacle to higher education.
"No qualified high school student should ever be barred entrance to a college based on his or her family's bank account. Yet, it happens all the time."
"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."