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Stanford Receives $150 Million Gift to Fight World Poverty

Nov 7, 2011

by Suada Kolovic

Stanford Receives $150 Million Gift to Fight World Poverty

With the economy in a slump, debt-ridden college students aren’t alone in their financial struggles. Colleges and universities nationwide – who’ve had a fair share in creating insurmountable amounts of debt for the majority of students – have struggled to attract potential donors as concerns about volatile markets remain. Stanford University, however, may be the exception: A local philanthropist and his wife have donated $150 million to establish an institute aimed at alleviating global poverty.

The gift from Robert and Dorothy King includes a $100 million grant to start the Stanford Institute on Innovation in Developing Economies, which will be known as Seed. The new center will be housed in the business school and will conduct research, coordinate courses in social entrepreneurship and design, and oversee projects worldwide to alleviate poverty. "We know there are people out there who can make this world a better place, and we want to get behind them," Mr. King, a venture investor and philanthropist in Menlo Park, Calif., said in a YouTube video about the institute. The remaining $50 million will be set aside to encourage donations to Stanford programs that tackle poverty and, if all funds are matched, the total could reach $200 million.

What do you think of Mr. and Mrs. King’s donation to Stanford and not those in need directly? Is this a step in the right direction or not?

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



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