Edgewood College in Madison, Wisconsin, has announced a $7 million estate commitment from an anonymous donor.

One of the largest gifts in the college's ninety-year history, the funds will be applied to the college's endowment, currently valued at $40 million, and will help fund scholarships. In its most recent assessment, the college determined that 99 percent of incoming freshmen received financial aid in the form of scholarships or grants.

According to the Wisconsin State Journal, the donor is not an alumnus of the college but has made anonymous contributions to the college previously.

"An endowment gift is special because it represents a significant investment in the future," said Edgewood president Scott Flanagan. "This generous friend of the college will make a remarkable difference for the students whose education will be made more affordable — a difference that will extend to the families and communities of those students. This person's humility, modesty, and selflessness is an example to all of us. We are truly grateful for the leadership this commitment conveys."

(Photo credit: Edgewood College)