Arthur M. Blank Foundation’s $50 Million Donation Expands Horizons For Black College Students

The Arthur M. Blank Family Foundation revealed a significant $50 million contribution to Atlanta's historically Black colleges and universities (HBCUs) on Monday, aimed at addressing financial aid deficiencies that could hinder students from completing their education. This funding will benefit nearly 10,000 students through “gap scholarships,” targeting those nearing graduation in good academic standing who have maximized other financial resources. The initiative intends to boost graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College. “These grants are a material investment in hope,” stated Fay Twersky, president of the foundation. This decade-long commitment follows the Trump administration's announcement to redirect nearly $500 million toward HBCUs. Arthur Blank, with a net worth exceeding $11 billion, has pledged at least half his fortune to philanthropy, amassing over $1.5 billion in donations toward hospitals and educational institutions. Leaders of the targeted schools lauded the foundation’s impact on student futures, emphasizing that financial challenges should not dictate academic success.