eBay President and CEO Meg Whitman will donate $30 million to Princeton University for the creation of a new residential college. "Whitman College" will enable Princeton to expand its undergraduate student body and provide more varied educational and social opportunities for students.

Whitman, member of the class of 1977, said, "I had a great time as a Princeton undergraduate. The University inspired me to think in ways that have guided me throughout my life. I'm pleased that I can help bring Princeton to more students and that my gift will benefit the University for generations to come."

Whitman's gift underscores her commitment and service to Princeton. She has served as a trustee since 2000 and is a member of the board's Executive Committee. She has been a generous donor to the University and has supported various teaching and athletics initiatives. As a student, Whitman was a member of the lacrosse and squash teams. Whitman also has been active in Princeton's Women in Leadership Initiative, an effort launched in 1998 - on the 25th anniversary of Princeton's first fully coeducational class - to encourage alumnae to participate as philanthropists and volunteers.

An architect for Whitman College will be chosen within a year. Construction is expected to begin in 2004.