This past week the University of Chicago (www.uofc.edu) received a donation of 100 million dollars to be used solely for tuition over the next 15 years. The grants are to be given to students whose families make 75,000 dollars or less a year. I feel that this donation will create far more wealth than the 100 million dollars given.
This type of donation will spread wealth by giving parents a break on the task of paying tuition and allow that money to go into investments for retirement or business. It will create wealth by allowing students to go into the workforce with minimal debt. That should allow a more robust saving and investing that will in turn help the economy.
This donor has recognized that the less debt students are able to leave school with, the more financially stable they will be in the future. I hope more affluent individuals realize the overall good this type of donation will create for the economy and society. Having buildings and scholarships in your name are great, but giving others the financial freedom to pursue their dreams at this high level is truly honorable.