See also: Dr. Dre speaks to LA Weekly about the contribution.

Must be nice to have so much cash that you can pair up with a buddy and donate $70 million to a private, rich kids' school like USC.

Of course, the headphone-endorsement business has been good to Dr. Dre, a.k.a. Andre Young. The same endeavor has been good to Jimmy Iovine, not to mention American Idol and Interscope Records. And the cash the two are ponying up is for a good cause:

USC announced late last night that …

… the duo's gift will establish the USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation, an exceptional environment for those rare undergraduate students whose interests span fields such as marketing, business entrepreneurship, computer science and engineering, audio and visual design and the arts. This program will prepare them to become a new generation of inspired innovators.

And just think how cool it will be to tell your friends that you have a bachelor's degree from Dr. Dre University. The program includes these core curriculum areas, according to the school: Arts and Entrepreneurship, Technology, Design and Marketability, Concept and Business Platforms, and Creating a Prototype.

The education includes a fourth-year, in-residence-type project called the Garage. Really. USC says the Academy …

… will offer a highly select group of students an integrated, four‑year course of study that will provide in-depth learning in, engineering and computer science, fine arts and graphic design, business and leadership models.

The first class of 25 students will start in fall, 2014.

No word yet on whether Sean “P. Diddy” Combs is going to donate money to UCLA to establish the Take That Business Academy. We'll keep you posted.

[@dennisjromero / / @LAWeeklyNews]

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