The Juilliard School has announced a $7 million grant from the Jerome L. Greene Foundation in support of fellowship program for actors, dancers, and musicians.

The grant expands the Jerome L. Greene Fellowship program by fifteen and will support up to fifty scholarships each year. Established in 1985, the program is designed to recognize the talent, dedication, community contributions, and financial needs of students across all programs, academic levels, and instruments comprising the Juilliard community.

Juilliard president Joseph W. Polisi told the Wall Street Journal that the scholarships are critical to reducing the debt that young student-artists accumulate. For performers without full-time employment or generous compensation, student debt "can be the kiss of death," said Polisi.

The Greene Foundation, which was created by New York real-estate lawyer and former Juilliard trustee Jerome "Jerry" Greene, has awarded the school more than $25 million since 1985. In addition to Juilliard, the foundation is responsible for some of the largest gifts to Columbia University, including a $200 million gift to create the Jerome L. Greene Science Center at the university's new Manhattanville campus. The Greene name also is associated with numerous institutions in New York City, including Montefiore Hospital and public radio station WNYC.

"The generosity of the foundation and the leadership demonstrated by [president and CEO] Christina McInerney in continuing to support the exceptional young artists who study at Juilliard each year is overwhelming," said Polisi. "We are deeply grateful to the foundation for this milestone gift that will allow new generations of actors, dancers, and musicians to become leaders in the performing arts in the twenty-first century."