The University of Minnesota has received $14 million to establish a new scholarship, the largest one-time scholarship gift in the school's history.
The money comes from the estate of Myrtle Stroud, who attended the university in the 1930s. Stroud, a long time resident of Windom, Minn., died last year at the age of 101.
Martha Douglas, spokesman for the University of Minnesota Foundation, said students will begin receiving the scholarships this fall.
"There are about 45 [students] who will be receiving the scholarship this fall," she said. "Every year that number will grow because that gift is being established in an endowment fund."
The new scholarship will be named after Stroud and her husband. Charlie Stroud, a business owner and investor, attended the university in the 1920s. He died in 1973.