LOUISVILLE, Ky. (WDRB) -- A University of Kentucky graduate is giving back to the school in a very generous way.

On Wednesday, the school announced that graduate and philanthropist Paul Chellgren and his wife Deborah, were donating more than $12 million to the school. The money will be used to support the Chellgren Center for Undergraduate Excellence.

School officials say the Woodland Glen I residence hall will be renamed Chellgren Hall.

More than $3.5 million of the money will go to the Chellgren Center. Of that amount, $1.25 million of the money will be used to launch the Chellgren Initiative, which supports undergraduate students.

The other $8.5 million will be used to create an endowment that will support programming needs for the Chellgren Center.

"I am honored to have the opportunity to give back to the University of Kentucky -- an institution that has meant so much to me and my family," Paul Chellgren said in a statement. "Giving back is about those we impact, educate and serve, and the future we want them to create. In the past decade, almost 400 Chellgren Center students have come to UK in search of an education that challenges them to compete and succeed in a complex and diverse 21st century economy."

Chellgren graduated from the University of Kentucky in 1964.

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