DePauw University has received a $6 million estate gift to support need-based financial aid for DePauw students.
DePauw President Brian Casey announced the gift Monday from the estate of Theodore Peterson and Elizabeth Emison Peterson. The gift from the couple will establish the Theodore and Elizabeth Peterson Endowed Scholarship Fund within the DePauw Trust.
With the gift, commitments to the DePauw Trust, which focuses on making the university affordable for students of all income levels, have surpassed $56 million. Gifts to the trust are part of the Campaign for DePauw, which has raised nearly $210 million.
Ted Peterson—a University of Illinois graduate described by DePauw as “a friend of the university’’—died in February 2014. Elizabeth Peterson graduated from DePauw in 1940 and died in September 2006.