The Peabody Institute, the music conservatory of the Johns Hopkins University in Baltimore, announced that it has received a $50 million contribution to its endowment following Michael Bloomberg’s recent $1.8 billion gift to the university. The gift will support increased access and affordability to undergraduate students at Peabody. Peabody Institute Dean Fred Bronstein noted in a letter to the Peabody community that the gift will not replace the awarding of merit scholarships for some students, but will provide new dollars to directly target eligible undergraduate students with demonstrated need, beginning with the Fall 2019 admission cycle. Peabody will also contact currently enrolled students with the greatest financial need for the coming semester to “ease their burden,” Bronstein said, with further details to be announced in the coming weeks.
Posted November 21, 2018
