Tuition just became even more affordable for students at Hood College in Frederick, Maryland – thanks to a $54 million donation, the largest in the school’s history.

All Hood College students already receive some form of financial aid, said President Andrea Chapdelaine. But the new funding will make financial barriers even slimmer.

“That should enable our students to continue through college and graduate successfully, with less of a financial burden and certainly lower debt upon graduation, if any,” Chapdelaine said.

Over one-third of Hood College students are eligible for Pell Grants, meaning they display “exceptional” financial need to attend college. Chapdelaine says this need will only increase as education costs climb.

“We also know that students who have a lot of need to pay for college while they're in college, are working many hours or working several jobs,” she said. “If we can reduce that so they can focus on academics, it's much more likely for them to be able to persist and graduate.”

The donation comes from the Hodson Trust, which has funded four Maryland colleges – including Hood – for more than one hundred years.

While some of that funding has gone to improving buildings and other projects, Chapdelaine said the “vast majority” of that nearly $150 million funding has been directed to student scholarships.

“We know that many students may not consider a Hood education because they think it's unaffordable,” Chapdelaine said. “But students often are surprised in a pleasant way by what’s possible.”