The University is set to receive $40 million — the largest planned gift in LSU history — upon the death of an anonymous donor, according to a University Media Relations press release.
Half the funds will go to the LSU Foundation and support academic scholarships for students in the College of Engineering’s Department of Mechanical and Industrial Engineering.
The other $20 million will aid athletic scholarships and facilities and will be funded through Tiger Athletic Foundation.
“When realized, it will ensure that our future engineering students and student-athletes will have the resources they need for even greater educational success,” LSU President F. King Alexander said in the release.
The donation, like other planned gifts, commits part of a donor’s estate to the University during his or her lifetime and is realized after his or her death, according to the release.