$5M Gift To University Of Michigan Aims To Help Detroit-Area Youth
ANN ARBOR, Mich. (CBS DETROIT/ AP) — The University of Michigan announced Tuesday a $5 million donation to the university will aim to create educational and professional opportunities for disadvantaged Detroit-area youth and young adults.
Half of the gift from Joan and Sanford Weill's Family Foundation will create the Youth Fund and is intended to support collaborations with NAF, a national nonprofit group 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.
The University of Michigan says the Weill's have made roughly $1 billion in charitable gifts to educational, medical, cultural and arts institutions.
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