Duke Grad Gives School $50 Million To Help Poor Students

A Duke University graduate and investment manager and his wife are giving his alma mater $50 million to help undergraduates attend the elite school.

Duke said Monday that university trustee Bruce Karsh and his wife Martha want $30 million for be used to help U.S. students and $20 million for international students. Duke's undergraduate tuition is nearly $41,000 a year.

The donation designates that $5 million will be used to help graduates of a national network of college-preparatory public schools working in poor communities. The money will be set aside to help graduates of the Knowledge Is Power Program, or KIPP school, who are accepted to Duke.

Bruce Karsh is president of Oaktree Capital Management, an investment company he co-founded in Los Angeles in 1995.

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  • by ET Location: Columbia on Dec 7, 2011 at 01:33 AM
    I wished they would give me just 10K of it so I could afford to give my daughters just 2 years of college. I got one in, one starting this coming year, and another in 2 years. I guess I was the wrong nationality to get any grants for them. Tried but to no avail. They have been honor roll students most of their high school and still could not get a scholorship either.
    • reply
      by Student on Dec 12, 2011 at 02:48 PM in reply to ET
      They are too pale!
  • by Petey Pirate on Dec 6, 2011 at 07:23 PM
    Poor students will never see a dime of it. They will raise the tuition on them in 6 months. Good hearted effort though. Congrats on that tax break too & publishing your name for this kind deed.
  • by Blessing Location: Kinston on Dec 6, 2011 at 02:52 PM
    Now this is what I call paying it forward. More people should take this lead. Most of us can't do it to this magnitude, but helping anyone that needs help is always a blessing.
  • by Bad Mentality on Dec 6, 2011 at 11:02 AM
    You all have been Obama brainwashed!!!!
  • by Cool! Location: ENC on Dec 6, 2011 at 07:17 AM
    WOW!!! Too bad there aren't more people like this. Generosity is such a wonderful virtue.
  • by Bob on Dec 6, 2011 at 06:48 AM
    Now that's a Donation. What about those three investment guys who won $254 Million up north a few weeks back, they only pledged to give about $200K to 4 charities; that's nothing when you're getting $254 Million. They should follow this guy's lead.
  • by excuse me on Dec 6, 2011 at 06:34 AM
    This is very generous of him to do, wish more of the extremely rich would do more to help out. I agree with Enough, 41k a year is robbery, and should be charged with price gouging.
  • by Enough Location: Greenville on Dec 6, 2011 at 05:35 AM
    This is extremely generous of the family to share in their blessings. On the other hand, $41,000 per year for an undergrad is criminal.
  • by Greenville Dukie Location: Durham, NC on Dec 5, 2011 at 08:00 PM
    This should be very helpful come spring. So many people help students here live out their dreams and it's absolutely amazing....people talk about people only donating and giving to charities for the tax write off....but they could be doing other things with their money regardless and this is something very positive to do.
  • by mom Location: Greenville on Dec 5, 2011 at 07:25 PM
    This is wonderful news, and a great gift to so many deserving students.
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