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LONDON, ENGLAND - JULY 15: Students throw their caps in the air ahead of their graduation ceremony at the Royal Festival Hall on July 15, 2014 in London, England. Students of the London College of Fashion, Management and Science and Media and Communication attended their graduation ceremony at the Royal Festival Hall today. (Photo by Dan Kitwood/Getty Images)

Yale School of Drama will now be tuition free after billionaire David Geffen donated 150-million dollars to the department.

Starting in August, the school will eliminate tuition for all returning and future students. Officials said the school would rename itself the David Geffen School of Drama at Yale University.

The 78-year-old has been credited for producing nine Broadway shows, from “Dreamgirls” to “The Little Shop of Horrors.” The donation is the largest on record in the history of American theater.

Source: Yale