On Wednesday morning, Northwestern University announced the largest donation that the school has ever seen in its history. They received more than $100 million in order to boost the global studies field as well as fund international student scholarships.
The donation was made by Roberta “Bertie” Buffett Elliott, a Northwestern alum. She’s also the sister of philanthropist and billionaire business magnate Warren Buffett. Both individuals will be announcing the gift on Wednesday afternoon at the university, and they will be part of a panel discussion talking about global issues.
The funding was actually transferred to the school earlier in the month, and it will be used to create the Buffett Institute for Global Studies. This place is designed to help bring together research, programs and the University faculty in order to help focus more on global issues.
They plan to hire new members of the faculty to focus in international areas, as well as provide scholarships that will allow students to study abroad. They also plan to give financial aid to international students. The gift will also help to expand a visiting scholars program. This will bring more experts to Northwestern University for one year.
“These are things we are going to start immediately,” said Morton Schapiro, Northwestern President in an interview with the Chicago Tribune. “The fact that we have money in hand, we can start the research, the need-based aid.”