Lake Forest College Receives $7 MILLION From Alumna Grace Groner
Lake Forest College was the beneficiary of a surprising $7 million donation, left behind by 1931 alumnus and "secret millionaire" Grace Groner.
The Chicago Tribune describes Groner, who passed away at 100 in January, as a survivor of the Great Depression who was "exceptionally restrained with her money."
NBC Chicago reports that the source of her wealth was apparently rooted in a $180 stock purchase she made in 1935. "She did not have the (material) needs that other people have," said longtime friend William Marlatt.
Lake Forest College says it plans to use the money to help students pursue internships and study-abroad opportunities.
The Chicago-based Liberal Arts college, founded in 1857, emphasizes a small class size and reasonable tuition. It is consistently ranked as one of the nation's top colleges in student satisfaction with financial aid. Approximately 1,400 students are enrolled.
Watch the ABC News report on the $7 million Lake Forest College donation: