BLM sets up student relief fund as loan forgiveness stalls

By Aaron Morrison, Associated Press

The Black Lives Matter Global Network Foundation launched a new relief fund Monday aimed at Black college students, alumni and dropouts overburdened by mounting education costs and the student loan debt crisis.

The foundation said it set aside $500,000 for the fund and plans to award more than 500 recipients with relief payments ranging from $750 to $4,500. A public application process opened on Monday, and recipients will receive their money in January if selected. Details about the fund were shared with The Associated Press ahead of the launch.

The Student Solidarity Fund expands a previous initiative the foundation started last year as millions of Americans struggled to make ends meet amid economic uncertainty during the coronavirus pandemic. This time the foundation said it intends to use philanthropic dollars to draw attention to issues of economic injustice, especially while a proposed federal student debt forgiveness plan is held up by litigation from opponents.

“The fact of the matter is that Black people who work to get an education are struggling right now,” BLM foundation board chair Cicley Gay said. “We recognize that we can’t build a world of true liberation without the brilliance of Black people who are committed to furthering their education.”

Find out if you qualify.

Black students were targeted by for-profit colleges that left them riddled with debt.

We’ll cover student loan relief in our breaking news section.