Now that federal funding for historically Black colleges and universities is waning, the Arthur M. Blank Family Foundation is stepping up in a major way. The foundation has committed $50 million over the next decade to support Atlanta’s historically Black colleges and universities (HBCUs).
The funds will go toward “gap scholarships” for nearly 10,000 students who are close to graduation but have exhausted all other financial aid options, helping to ensure financial hardship doesn’t force them to leave school.
Atlanta’s four institutions, Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College, are the direct beneficiaries of this aid. Fay Twersky, president of the foundation, called the donation “a material investment in hope.” Meanwhile, leaders from the HBCUs praised the gift as timely and transformational.
“This monumental investment will empower our students to remain focused on their academic studies … not financial hardship will determine their futures,” said Dr. F. DuBois Bowman, Morehouse College president.
This is the foundation’s largest donation yet to Georgia’s HBCUs. In past years, it has supported academic labs, athletic fields, and infrastructure improvements at several institutions.
Atlanta’s HBCUs already contribute over $1 billion in annual economic impact to the region, and are nationally recognized for helping low-income students climb the economic ladder.