Bloomberg’s donation will enable the Baltimore-based university to remove loans from financial aid packages and expand grants for those who need them for incoming students in the fall of 2019. The donation will also help current undergrads who have taken out federal loans to cover their tuition, housing, and fees. Johns Hopkins, like many universities, has had a hard time achieving the goal of welcoming the most talented students, regardless of their backgrounds and financial means. The president of the university, Ronald Daniels said: Bloomberg wrote an op-ed in the New York Times explaining that his donation is so that students can attend Johns Hopkins based on merit, not their family’s wealth. He wrote: “This will make admissions at Hopkins forever need-blind; finances will never again factor into decisions.” Before the Johns Hopkins donation, Bloomberg had given $6.4 billion to education and other causes. With the donation, his total giving to Johns Hopkins is $3.3 billion. Bloomberg is a member of The Giving Pledge Bloomberg’s gift will directly impact the student body of Hopkins. The money will not be used to build a building, it will reduce the debt that students graduate with and ensure talented students of merit can attend the university. Direct aid from universities is crucial. The maximum federal Pell Grant only provides $6,095 a year for students in need, less than a tenth of what private schools charge for tuition, fees, and room and board. With all of that figured in, many schools, including Hopkins, charge $70,000 a year. Bloomberg’s donation is the latest in a series that started with a $5 donation to Johns Hopkins the year after he graduated.
