(AP) — A University of Nebraska-Lincoln graduate who spent his career working in finance is donating $8 million to the university’s School of Music.

The university announced the gift from Glenn Korff Tuesday and said the music school would be renamed in his honor.

Korff lives in Boulder, Colo., after retiring from Goldman Sachs, but he has long been a supporter of the University of Nebraska-Lincoln, where he earned his bachelor’s degree in 1965.

Korff’s donation will be used to create an endowed fund. One-quarter of the proceeds will be used for student scholarships and one-quarter will support the faculty.

The other half of the proceeds will support academic programs and activities like concerts, tours and competitions.