LOUISVILLE, Ky. (WDRB) -- Centre College plans to use its largest-ever grant to offer full-ride scholarships to underserved students. 

A $20 million grant from the Schuler Education Foundation to Centre College was "immediately" matched by a $20 million gift from an anonymous donor, according to a news release. 

Centre is one of five colleges who were selected to take part in the Schuler Access Initiative, which aims to enroll more students who are Pell-eligible or have undocumented status at liberal arts colleges across the country. 

"Every day, our community demonstrates that an extraordinary liberal arts and sciences education leads our graduates to meaningful lives and purposeful careers, said Centre College President Milton C. Moreland. "I am deeply grateful for the generosity of the Schuler Education Foundation—as well as our anonymous donor—for helping us to provide an ambitious model of support for deserving students."

Centre officials said the funding will allow the college to welcome 120 students over a decade who may not have otherwise been able to afford college. The funding will cover 100% of college for the students during their four years at Centre. 

Centre will also raise $10 million more in matching funds to support more students. 

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