Former NYC Mayor Bloomberg makes whopping $1.8 billion donation to Alma mater

BALTIMORE, Maryland -- Former New York City Mayor Michael Bloomberg is making a massive donation to his Alma mater.

Bloomberg is giving $1.8 billion of his personal fortune to Johns Hopkins University.

The school says it is the largest single gift ever to any educational institute in the United States.

It will allow Hopkins to start eliminating student loans in financial aid packages, and admit high-achieving students regardless of their ability to pay.

The donation is on top of a gift of $1.5 billion that Bloomberg previously gave the university.

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