Reed College in Portland, Ore., has received a bequest valued at a minimum $21 million from a Washington state paper company heir who attended - but did not graduate from - the private liberal arts school, the Oregonian of Portland reports.

The bequest from the late Phillip Wertheimer is the largest private donation to the college. The money will be used for scholarships for needy students, the Oregonian reports.

Reed is one of the most expensive colleges in the nation, with tuition, room, board and other fees totaling $31,000 a year. More than 40 percent of Reed's 1,200 undergraduate students receive financial aid.

The Wertheimer gift will provide an additional 80 scholarships a year, school officials told the paper.

Wertheimer studied physics at Reed for four years in the 1940s. He graduated from the University of Washington.

He worked as an engineer and supervisor and served on the board of directors of Longview Fibre Co., one of the nation's largest paper and container manufacturers. Longview Fibre was co-founded by Wertheimer's grandfather.

Reed College, founded in 1911, has an endowment of $240 million. It is nearing completion of a five-year, $100 million capital campaign.

Full text of the article is currently found at:
http://www.oregonlive.com/news/99/03/st031003.html