Columbia receives $400 million
A year after insurance magnate Peter Lewis '55 donated $101 million to the University, Columbia has announced its largest-ever donation, nearly four times the size of Lewis'.Media entrepreneur John Kluge, a member of Columbia's class of 1938, has pledged to give his alma mater $400 million for financial aid upon his death, the school said yesterday.The gift is "the largest ever devoted exclusively to student aid and the fourth largest ever to any single institution of higher education in the United States," the Chronicle of Higher Education reported yesterday.Wendell Collins, communications director of the University's development office, said that Princeton was happy to learn of the donation."It's very significant," Collins said.