MINNEAPOLIS (AP) – The University of Minnesota has received $14 million to establish a new scholarship.

It’s the largest one-time scholarship gift in the university’s history.

The money comes from the estate of Myrtle Stroud, who attended the university in the 1930s. Stroud, a longtime resident of Windom, died last year at age 101.

Martha Douglas, spokeswoman for the University of Minnesota Foundation, says students will begin receiving the scholarships this fall.

Douglas tells Minnesota Public Radio about 45 students will receive the scholarship this fall. She says that number will grow every year because the gift is being established in an endowment fund.

The new scholarship will be named after Stroud and her husband. Charles Stroud, a business owner and investor, attended the university in the 1920s. He died in 1973.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)