Two prominent UW-Madison supporters recently donated $175 million for need based financial aid programs on campus.

Chancellor John Wiley said the gift from John and Tashia Morgridge was “nothing short of magnificent.”

“Supporting need-based scholarships at this level will make the dream of a college degree a solid reality for thousands of Wisconsin families,” Wiley said in a statement.

The donation helps create the Fund for Wisconsin Scholars. The Morgridge family has previously supported campus resources like the Morgridge Center for Public Service and the upcoming Wisconsin Institute for Discovery/Morgridge Institute.

“The Fund for Wisconsin Scholars will provide access for low-income Wisconsin residents to a higher education in a meaningful and solid way,” Susan Fischer said, UW-Madison director of financial aid.

Programs that deal with access to higher education have been the recipients of many multi-million dollar donations recently, with the Wisconsin Covenant Program receiving $40 million in early November.