The renowned Yale School of Drama is now free for all returning and incoming students thanks to a record-breaking gift from billionaire David Geffen. The business magnate’s $150 million donation, “the largest in the history of American theater,” allows the school, whose famous graduates include Meryl Streep and Frances McDormand, to ditch tuition fees, which previously came to $32,800 a year. This comes more than 15 years after the Yale School of Music became free following a $100 million donation by billionaire Stephen Adams. Around 200 students are enrolled at Yale’s drama school, and free tuition should give lower income students better access to the prestigious institution.