$400M Gift Will Endow Harvard's Engineering College

A Harvard University alumnus donated $400 million to endow the institution's engineering college, which will jump-start Harvard's stalled effort to expand into nearby Allston, the university announced Wednesday. In recognition of the gift from the investor, Harvard will rename the college the John A. Paulson School of Engineering and Applied Sciences. The gift comes amid significant discussion nationally about the growing gap between the wealthiest American colleges (of which Harvard is by far the richest) and all others.