Earlier this week New York University announced that it had received a $1 million gift from actor and NYU alum Alec Baldwin. The money will be used to establish the Alec Baldwin Drama Scholarship Fund for students attending NYU’s Tisch School of the Arts.

The Alec Baldwin scholars must demonstrate “an unwavering work ethic, development of leadership skills, willingness to collaborate, the ability to tolerate risk, and the capacity to work with constructive criticism,” according to criteria set by Baldwin. Preference will also be given to students who are the first in their families to attend college.

“The support I got from Tisch made it possible for me to become an actor and to have a career in this business,” said Baldwin about the scholarship. Earlier this year Baldwin told Men’s Journal, “I consider my entire movie career a complete failure,” and announced that he will quit acting altogether in 2012.

Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer