$400 Million in Student Aid for Students of Columbia University.

By: Rachna Mehra

John Werner Kluge a media billionaire entrepreneur is giving away $400 million to Columbia University to be used for student financial aid. This is one of the largest gifts ever to an American university and will be paid out from his estate after his death.

Kluge, a German immigrant, graduated from the Ivy League school about 70 years ago. He attended the school on scholarships and, is thankful for the opportunity that helped him become a successful broadcast entrepreneur.

According to university President Lee C. Bollinger, John's amazing generosity will ensure that young people have a chance to benefit from a Columbia education regardless of their wealth or family income and that his extraordinary gift, coupled with his earlier gifts, will help generations of Columbians.

Kluge bought a single radio station in 1946 for $15,000 and built it into Metromedia Broadcasting by 1960. In 1983, Kluge took Metromedia private and he then sold off the broadcast properties gradually for $4.65 billion.
He was ranked as the wealthiest man in America from 1989-91 and last year, he was listed as the 25th richest American with an estimated net worth of $9.1 billion.

Kluge has in the past, given $100 million to Columbia for the Kluge Scholars Program, which has supported 500 undergraduate students. As of last year, the Ivy League school had an endowment of more than $5 billion, larger than most universities but smaller than other Ivy League schools.

Source:

http://uk.reuters.com/article/worldNews/
http://www.signonsandiego.com/news/nation/

Article Source: EZINEPRIME - FREE WEB CONTENT and ARTICLES

Rachna Mehra is a freelance writer from NYC, New York. For more information on scholarships and financial aid, visit www.10KScholarship.com.

Add this article to your favorite Social Bookmarkers.

Print This Article

Post Comment

Add To Favorites

Email to Friends

Ezine Ready

More Related Articles on Financial Aid

Click here for more ARTICLE CATEGORIES

Submit Articles
Member Login
Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds

**tla**

Premium Web Directory
PrimeScrolls
MykleidoscopeWorld
Cultured Shock
FlippTripp
MadTomatoe
Love Text Quotes
Pinoy Jokes
Hot Funny Videos
Top MySpace Layouts
Top Friendster Layouts
Top Music Videos
SEO Blog

RSS Feeds:

To subscribe to individual top categories, click here

Email Subscription:

Subscribe to receive email
with our newest content.

FRUITY LINKS:

	EzinePrime © 2006-2007 HubPrime.com Notice: We collect personal information on this site. To learn more about how we use your information, please see our Privacy Policy.
Home \| About\| Contact Us \| PrimeLinks\| Privacy Policy \| Terms of Service \| RSS
by HubPrime™