With help from alumnus Paul Newman, Kenyon College will provide loan-free educations to 25 students in need of financial support beginning next fall.
The school, located in Gambier, Ohio, has 1,654 students and says it will expand the no-loan program for those with the greatest need in the years to come.
“I feel strongly that we should be doing whatever we can to make all higher education opportunities available to deserving students,” Newman says in a statement. “I hope others will support Kenyon in this manner, and, equally, that others will support colleges and universities across the country.”
The program, Newman’s Own Foundation Scholars, was created using a $10 million donation from the actor and supplemented by $30 million in gifts from other sources.
The school aims to raise an additional $30 million for financial aid as part of its current $230 million fundraising campaign, The Drive for Excellence.
Newman Scholars will be chosen based on financial need as well as their creativity, community service and leadership qualities.