Simplify the following text for a Grade 8 native English-speaking person.
Original: In 1887 , as the college continued to grow under the presidency of Timothy Dwight V , Yale College was renamed Yale University . The university would later add the Yale School of Music ( 1894 ) , Yale School of Forestry & Environmental Studies ( founded by Gifford Pinchot in 1901 ) , Yale School of Public Health ( 1915 ) , Yale School of Nursing ( 1923 ) , Yale School of Drama ( 1955 ) , Yale Physician Associate Program ( 1973 ) , and Yale School of Management ( 1976 ) .
Simplified: Later , a man named Elihu Yale gave a lot of money to the school , so they renamed the school `` Yale University '' .