"Well, total joy. Surprise. Certainly very very thankful."
IPFW Chancellor Vicky Carwein said that she doesn't know much about the donors.
"Both the husband and wife were in their 90's when they passed away. So they had been out of the workforce for a very long time, and I really don't know their history."
Not a lot is known about the donors Oscar and Ophelia Weitzman, but their estate has directed that the money be used for full ride scholarships for engineering and education students. Junior Engineering Major Patrick Kirk says a scholarship opportunity like that would have helped him immensely.
"Well definitely, I'm actually from out of state so I'm paying out of state tuition. So a full ride by any means, especially with out of state tuition being more than in state, definitely would have helped a lot."
Kirk says since he didn't have a full ride option, he's funding his schooling the old fashioned way.
"Pretty much just loans. I'm working through the banks and trying to get that whole get in debt kind of quick method."
Chancellor Carwein says the gift will have a big impact.
"The first thing I thought about was, wow, so many students are going to be supported and going to benefit from this gift. And that there is no better way to spend gift money than in direct support of students."
Officials are still determining the application process and how many scholarships they'll have available. But they are hoping to have something ready for engineering and education students to apply for in january 2015.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.