Extracts from the article: "Last November, Michael Bloomberg made what may well be the largest private donation to higher education in modern times: $1.8 billion to enable his alma mater, Johns Hopkins University, to provide scholarships for eligible students unable to afford the school’s tuition. Bloomberg is grateful to Johns Hopkins, he explains, because the opportunity to study there, on a scholarship, “opened up doors that otherwise would have been closed, and allowed me to live the American dream.” In the year after he graduated, he donated $5 to the school, all he could afford. Thanks to the success of Bloomberg L.P., the international financial-information company he founded in 1981, he has now given a total of $3.3 billion......And yet I cannot applaud Bloomberg’s donation to a university that already had an endowment of $3.8 billion and charges undergraduate students $53,740 per year to attend. My preference is for Hank Rowan, who back in 1992 gave $100 million to Glassboro State College, a public university in New Jersey that at the time had an endowment of $787,000 and annual fees of about $9,000. Rowan himself was a graduate of MIT, one of the world’s finest universities, but gratitude was not his motivation for donating. He wanted to make the biggest difference he could, and believed that one makes a bigger difference by strengthening the weak links in the higher education system than by giving even more to those who already have a lot."