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A Graduate's Generous Gift

George School, a small Quaker high school in Newtown, Pennsylvania, is getting a big helping hand. Last week, former student Barbara Dodd Anderson made a $128 million donation to the school. It is believed to be the largest single gift ever to an independent school in the U.S.

"This gift is meant to honor not only my father, but also all of the teachers at George School who had such an impact on me," says Anderson. She was inspired by businessman Warren Buffett, who gave a $31 billion donation to the Bill and Melinda Gates Foundation last year.

Anderson's father, David Dodd, was a business professor in New York City. He taught Buffett in the 1950s. He and Buffett later became business partners.

The donation will be used for student financial aid, for teachers' salaries and to further environmental research. It will be given to the school in installments over 20 years.

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