Yale is offering FREE Tuition to Drama School Students.

One of the most prestigious universities in the world is offering free admission for students who want to enroll in its drama program.

Yale University is accepting applications for its David Geffen School of Drama, which was recently renamed after the media mogul donated $150 million to the school, Yale officials say. A statement released Wednesday calls the donation "the largest on record in the history of the American theater."

Geffen, who founded Asylum Records, Geffen Records and Geffen Pictures -- and co-founded DreamWorks SKG -- worked for one semester at Yale, teaching a class on the music industry in 1979, says Yale President Peter Salovey. "David Geffen’s visionary generosity ensures that artists of extraordinary potential from all socioeconomic backgrounds will be able to cultivate their talent at Yale,” Salovey says.