Western Michigan University is now the record holder for the largest donation given to a public university.
According to The Washington Post, the anonymous donor is an alumnus of the school, and they presented the university with a $550 million donation.
The university will receive the funding over the next 10 years. The money will be divided into three separate categories: $300 million for WMU's School of Medicine, $200 million for need-based financial aid, faculty hiring, and other initiatives, and $50 million for the school's athletic programs.
According to a list kept by the Chronicle of Higher Education, the $550 million gift beats the previous record of a $500 million donation to a public university.
WMU's president, Edward Montgomery, told The Washington Post, "I'm immensely pleased to have this gift. Its size allows it to be transformative." He also said that this donation would allow the university to make education affordable for underrepresented students.
Montgomery added that the donors are "longtime supporters of the university who have always been advocates for social justice and the advancement mission of the campus."
The second-largest donation made to Western Michigan University was given in 2011 for $100 million to help establish its school of medicine.