The University of Michigan Law School has landed a $33 million donation that it will use to bolster student scholarships and reduce graduate debt.

The university’s board of regents on Thursday gave final approval for the gift, from alumni real estate developer Chris Jeffries and his wife, Lisa Jeffries. The school plans to rename a building, now dubbed South Hall, as Jeffries Hall. The building, which opened in 2012, houses classrooms, clinics and administrative offices. Chris Jeffries previously donated $5 million toward the construction costs and the couple has given more than $40 million to the school since 2007.

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