Reports have it that the man before his death only owned two pairs of jeans and a rusty Chevrolet truck but was able to amass money running into millions in his lifetime.
After quietly amassing $3 million in savings, Dale Schroeder set up a fund for students in Iowa who could not afford tuition. Now, after 14 years, those funds have finally run out, Yahoo News reports.
Schroeder grew up poor and was never able to go to college, according to KCCI. So, shortly before the carpenter, who had never married and never had children, passed away in 2005, he approached his friend and lawyer, Steve Nielsen, to discuss what to do with his life savings.
“He wanted to help kids that were like him that probably wouldn’t have an opportunity to go to college but for his gift,” Nielsen told the station. “I said, ‘How much are we talking about, Dale?’ And he said, ‘Oh, just shy of $3 million.’ I nearly fell out of my chair.”