Fay Twersky, president of the Arthur M. Blank Family Foundation.The Arthur M. Blank Family Foundation
The Arthur M. Blank Family Foundation announced Monday a $50 million investment over 10 years to provide gap scholarships for students at four Atlanta Historically Black Colleges and Universities.
The funding will support students at Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College who face financial barriers to graduation despite being in good academic standing.
Beginning in 2026, the program is projected to assist nearly 10,000 students who have exhausted other financial aid options, including federal grants, state assistance and loans. The scholarships will primarily target juniors and seniors, when financial pressures often intensify.
"Even a small financial gap can be the difference between walking across the graduation stage or walking away," said Fay Twersky, president of the Arthur M. Blank Family Foundation.
Gap scholarships address a critical need among Pell Grant-eligible students, who comprise a significant portion of enrollment at the four institutions. These students face higher rates of food and housing insecurity and are more likely to leave college without completing their degrees.
The investment comes from the foundation's Founder Initiatives portfolio, which supports essential Atlanta institutions. Arthur M. Blank, who co-founded The Home Depot, established the foundation in 1995.
"We know Spelman, Morris Brown, Morehouse and Clark Atlanta are vital to Atlanta's future," Blank said in a statement.
The four Atlanta HBCUs contribute $1 billion in annual economic impact to the region, according to the foundation. HBCU graduates working full-time can expect to earn more than $1 million in additional income over their careers compared to those without degrees.
The scholarship program builds on previous Blank Foundation commitments to HBCUs, including $10 million to Spelman College for an innovation lab and $6 million for athletic facilities at multiple institutions.
University presidents called the investment transformative.
Dr. George T. French Jr. of Clark Atlanta University said the investment "provides the critical resources they need to graduate and prepare for leadership in the global marketplace."
Since its founding, the Arthur M. Blank Family Foundation has granted more than $1.5 billion to charitable causes.
