COLLEGE PARK, Md. — To help double need-based scholarships, the University of Maryland is getting a $220 million gift from the foundation of a billionaire alumnus whose own education was made possible by a scholarship.
The university announced the gift from the A. James and Alice B. Clark Foundation on Wednesday. Clark, who hitchhiked from home because he couldn’t afford room and board, and went on to become a leader of one of the nation’s largest private construction companies.
“It’s truly transformational for the University of Maryland, and the whole idea of this investment is to build the future, and building the future means dramatically expanding access and opportunity for students to get an education at the University of Maryland,” said Wallace Loh, the university’s president.
It will be the sixth-largest private gift to a public university in the nation, according to rankings of major private gifts to higher education by the …