Yale University could admit about 15 percent more undergraduates because of a $250 million donation to construct two residential colleges. The $250 million gift from an alumnus, Charles B. Johnson, former chairman of the board of Franklin Resources, is the university’s largest ever.
The donation will be used to build two new residential colleges, allowing the university to admit about 15 percent more students each year and bringing the total undergraduate enrollment to over 6,000. The university is within $80 million of the funds necessary to break ground on the project.
“This is an extraordinary commitment from one of Yale’s most loyal alumni,” Yale President Peter Salovey said in a press release.