It ain't nothing but a "G" thing for Dr. Dre and Jimmy Iovine -- g as in "gift." The music mogul donated $70 million to the University of Southern California in Los Angeles to develop an arts center in their name.

According to the Los Angeles Times, the generous gift will establish the Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation.

The four-year undergraduate program will offer courses in computer science, technology and business. Among the curriculum being offered include visual design and marketing and arts and entrepreneurship.

"The vision and generosity of Jimmy Iovine and Andre Young will profoundly influence the way all of us perceive and experience artistic media,” USC President C.L. Max Nikias said in a statement. “Our goal is to ensure that the academy is the most collaborative educational program in the world.”

Applicants will be chosen by a strenuous reviewing process based on academic excellence and the "proven ability for original thought."

The center will open for its first class of 25 students in fall 2014.

Props to Dr. Dre and Jimmy Iovine for their generous donation and investing in higher education.

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