Smith College receives $50 million from alumna

Smith College receives $50 million from alumna

Smith College in Northampton, Massachusetts, has announced a $50 million gift from an alumna who wishes to remain anonymous.

The largest gift from an individual donor in the college's history includes $40 million for student financial aid and $10 million aimed at re-envisioning career development programs. The endowment gift brings Smith closer to its goal of need-blind admissions.

"Smith had a meaningful impact on my life, both personally and professionally, and I feel an obligation to pay it back," said the donor, who made the gift through a private foundation.

"I could not be more grateful for this alumna's generosity, vision, and belief in the power of a Smith education," said Smith College president Kathleen McCartney. "Her investment in the college will allow us to make a giant stride in equalizing the Smith experience for students from low- and middle-income backgrounds."