NorCal Venture Capitalist Donates $116 Million To Oxford University
Don't Miss This
- CHP Officers, Teacher Help Santa Deliver Presents To Boy Who Didn’t Get Visit Last Year
- Lawyer Allegedly Caught During Sexual Encounter With Jailed Inmate Fires Back
- Man Allegedly Sets Himself And Wife On Fire In Stockton
- Davis Teen Gets 52 Years To Life In Brutal Slaying Of Elderly Couple In Their Beds
- Caltrans May Pick Up The Tab For Your Car’s Pothole Damage
LONDON (AP) — Oxford University says a Silicon Valley venture capitalist has donated 75 million pounds ($116 million) to help poor students attend the prestigious institution.
The money is a gift from Sequoia Capital president Michael Moritz and his wife, novelist Harriet Heyman.
Oxford said Wednesday the donation will form part of a fund to subsidize fees and living costs for students with family incomes below 16,000 pounds. About 100 students will get the award in the first year.
Wales-born Moritz, who studied history at Oxford, says the goal is to ensure that money is not a barrier to an Oxford education.
The number of students applying to British universities has fallen since the government tripled university fees to 9,000 pounds starting this fall. Students on the scholarship will pay just 3,500 pounds.
Copyright 2012 The Associated Press.