$5M gift to University of Michigan to help Detroit students
ANN ARBOR, Mich. (AP) — A $5 million donation to the University of Michigan aims to create educational and professional opportunities for disadvantaged Detroit-area youth and young adults.
The Ann Arbor school announced Tuesday that half of the gift from Joan and Sanford Weill’s Family Foundation will create the Youth Fund. That’s intended to support collaborations with NAF, a national nonprofit with 20 career-themed academies in Detroit.
The other half will be used to create a scholarship fund that will provide tuition support and stipends for graduate students at the university’s Gerald R. Ford School of Public Policy. The aid goes to students from economically disadvantaged backgrounds committed to advancing diversity in public policy.
Michigan says the Weills have made roughly $1 billion in charitable gifts to institutions. Sanford Weill is former chairman of Citigroup.