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Free Tuition at Northwestern

Posted By Jim On 10/15/2006 @ 9:01 am In Frugal Living | 2 Comments

In 1866, Mac LeBuhn’s great-great-great-great uncle bought a perpetual scholarship to Northwestern for a hundred dollars. The perpetual scholarship meant that he and all of his descendants, who were accepted into Northwestern, could attend without paying a cent in tuition – worth over $134k over four years. The only thing they had to pay for was room and board, or approximately $10k.

Before you jump the gun and say that $100 was worth a lot back in 1866, if you were to adjust it to dollars today it would be approximately $1200… still a great great bargain! It was pretty forward looking on the part of his great-great-great-great uncle considering the price of tuition was a mere $45 back then… but since about ten people have taken advantage of the perpetual tuition. Smart guy!

Source: Sun Times [3] (I read this on someone’s blog but I forgot who, sorry!)

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[3] Sun Times: http://www.suntimes.com/news/metro/53370,CST-NWS-PERPETUAL15.article

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