Hood College in Frederick, Maryland, has announced a $54 million gift from The Hodson Trust to support undergraduate scholarships.

The largest gift in the college’s 130-year history will increase Hood’s endowment by 42 percent. The entirety of the gift will be used to fund undergraduate scholarships, awarded to students of outstanding academic ability who have shown leadership both in school and in their communities. In its 103-year history, the Hodson Trust has donated more than $150 million to Hood.

“Access to higher education is more important than ever; accordingly, Hood has made affordability a major priority,” said Hood College president Andrea E. Chapdelaine. “By designating these funds exclusively for scholarships, the Hodson trustees will help us meet the financial needs of all students of promise.”

(Photo credit: Flickr/R. Strickland)