Transylvania University gets $5 million.
It's a gift from the Gilliam R. Kenan Junior Charitable Trust.
The money will go for student scholarships.
The 2013 freshman class will be the first group of students to be eligible.
It's being called one of the biggest gifts in Transylvania history.
But the Lexington Herald-Leader reports Transy will have to raise $5 million in matching funds over the next 3 years to fully establish the endowment.