Vanderbilt University will spend $1.2 million to remove the word "Confederate" from a dorm building. The school's chancellor said the word doesn't reflect inclusiveness.

National

The monument, which has stood in its place since 1895, won't be put away forever -- the statue will be moved to another location, University President James Ramsey confirmed in an announcement with Louisville Mayor Greg Fischer on Friday.

State residents are still allowed to commemorate the lives of Confederate soldiers if they so choose.