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On Friday, the Cornell Law School announced that it would receive a $25 million donation from an anonymous donor for funding student scholarships and academic research. Dean Stewart Schwab told the media that it was the largest gift ever received by the law school.
Even though earlier large gifts like the $17 million from alumna Jane Foster were mostly used to fund campus buildings, this donation was for general endowment. The money would be used to fund faculty research; programs in intellectual property law, international law and other sectors. A part of the fund would also be used for student scholarships, grants and loan forgiveness programs. Schwab said, “In these times of high tuition and high debt rates, that is very important.”
The anonymous donor is a graduate of the Cornell Law School, but has requested anonymity.
In spite of dismal performance and a contrived recovery from the recession, several law schools have bagged large gifts in recent years. In 2011, the University of Maryland School of Law received a $30 million gift from the W.P. Carey Foundation, and the Indiana University School of Law received $24 million from Robert McKinney, a retired banker.
