Home Depot founder Arthur Blank donates $50 million to Atlanta’s historically Black colleges and universities via foundation

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By Michael Warren, The Associated Press

Arthur M Blank
Arthur M Blank, owner of the Atlanta Falcons, at the Tomb of the Unknown Soldier in Arlington National Cemetery, Arlington, Va., June 16, 2017. (Public Domain)

The Arthur M. Blank Family Foundation announced a $50 million donation to Atlanta’s historically Black colleges and universities on Monday, aiming to close financial aid gaps that might otherwise prevent students from completing their degrees.

The money will support nearly 10,000 students with “gap scholarships” if they are approaching graduation in good academic standing and have exhausted all other sources of financial support. The aim is to raise graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College, according to the foundation’s announcement.

“These grants are a material investment in hope,” said Fay Twersky, the foundation’s president.

The 10-year commitment comes days after the Trump administration said it would redirect nearly $500 million in federal funding toward HBCUs and tribal colleges as a one-time investment. A similar amount would be cut from colleges with large enrollments of Hispanics and other minorities, amid other moves to eliminate programs that promote diversity in higher education.

Keep reading to learn more about Arthur Blank.

Another philanthropist recently made a donation to HCBUs.

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