For many students, financial barriers—not academics—stand in the way of earning their diplomas.  

Eligibility rates for Pell Grants are particularly high across these four schools. A Pell Grant is a need-based form of federal financial aid that provides money to low-income undergraduate students to help pay for college, which does not have to be repaid. Pell-eligible students tend to face more unmet needs and therefore take out more loans, work more hours, face higher degrees of food and housing insecurity, and are at greater risk of forgoing higher education or leaving school without a credential. 

The foundation’s investment in gap scholarships is designed to overcome the financial barrier, helping more students complete their education. Beginning in 2026, the program is projected to support nearly 10,000 students, helping raise graduation rates across Atlanta’s HBCUs and serve as a model for other philanthropies to expand investment in HBCU student success. 

The funding is from the Blank Foundation’s Founder Initiatives portfolio, including support of essential Atlanta institutions. 

“Atlanta holds a special place in my heart and will always be an integral part of our family foundation’s giving,” said Arthur M. Blank, chairman, Arthur M. Blank Family Foundation. “We know Spelman, Morris  Brown, Morehouse and Clark Atlanta are vital to Atlanta’s future, and we are deeply committed to supporting the students who will carry that legacy forward. We recognize that these campuses, like many across the country, are home to generations of students whose promise inspires us. Our hope is that by helping more students earn their degrees, launch successful careers and become alumni who give back, we are investing in a cycle of opportunity that benefits young people and their families in Atlanta and communities across the nation for years to come.”

Investing in Student Success 

Gap scholarships will provide direct support to students who are closest to earning their degrees but face financial gaps that could prevent them from finishing. By bridging these gaps, the program will help ensure more students stay enrolled, graduate on time and step into their futures with a completed degree. 

“Even a small financial gap can be the difference between walking across the graduation stage or walking away,” said Fay Twersky, president, Arthur M. Blank Family Foundation. “We are proud to stand with Atlanta’s HBCUs and help more students achieve their dreams. These grants are a material investment in hope.” 

Students who are in good academic standing and have fully exhausted other financial options, including scholarships, federal grants, state assistance and loan programs, will be eligible to receive funding at the discretion of their respective institution. The funding will largely support students in their junior and senior years, when financial stress can be most acute as family resources may be spread thin or additional siblings begin college. 

Continuing a Legacy of HBCU Support 

The scholarship initiative builds on the Blank Foundation’s longstanding commitment to HBCUs, including: 

• $10 million to Spelman College for the Arthur M. Blank Innovation Lab 
• $6 million for athletic field refurbishments at Clark Atlanta, Albany State, Miles College and Savannah State 
• $3 million to Morris Brown College to digitize a one-year hospitality credential
• $400,000 to Morehouse College Golf Program with PGA TOUR Superstore 
• New football helmets for Morehouse College and Clark Atlanta University student-athletes

Economic and Community Impact 

The scholarships are expected to fuel long-term benefits for students and the broader community: 

• HBCU graduates will earn 57% more in their lifetimes than they would without a degree.
• An HBCU graduate working full-time can expect to earn $1M+ in additional income over the course of their career. 
• HBCUs outperform all other institutions in moving students from the lowest 40% of household income to the top 60%. 
• Atlanta’s HBCUs contribute $1 billion in annual economic impact to the region.

HBCU Presidents on the Impact of Scholarship Funding

Dr. F. DuBois Bowman, President, Morehouse College 

“This monumental investment will empower our students to remain focused on their academic studies  and ensure that their talent, ambition, hard work, and integrity, not financial hardship, will determine  their futures.” 

Rosalind “Roz” Brewer, Interim President, Spelman College 

“This investment affirms that every Spelman scholar deserves access to a world-class education. It  expands our ability to bridge financial gaps and support students through to graduation.” 

Dr. George T. French Jr., President, Clark Atlanta University 

“This transformative gift empowers Clark Atlanta students to succeed and lead globally. It provides the  critical resources they need to graduate and prepare for leadership in the global marketplace.” 

Dr. Kevin E. James, President, Morris Brown College 

“The Blank Foundation’s commitment provides critical support for Morris Brown students in their educational journeys. It removes economic barriers that have historically stood in the way of achieving  their aspirations.” 

About the Arthur M. Blank Family Foundation 

The Arthur M. Blank Family Foundation is a philanthropy founded to help transform lives and communities by uniting people across differences to find common cause. Started in 1995 by Arthur M. Blank, co-founder of The Home Depot, the foundation has granted more than $1.5 billion to charitable causes. Our collective giving areas are Atlanta’s Westside, Democracy, Environment, Mental Health and Well-Being, and Youth Development. Across these areas, we take on tough challenges by uniting the courage and compassion of our communities so we can all thrive together. In addition to the priority areas of giving, the foundation oversees a large portfolio of grants including support of essential Atlanta nonprofit institutions, such as Children’s Healthcare of Atlanta and Shepherd Center, and enduring founder-led initiatives, such as veterans and the military and stuttering, among others. The foundation will also continue to guide the six associate-led giving committees operating across the Blank Family of Businesses. For more information, please visit www.blankfoundation.org.

 Source: Arthur M. Blank Family Foundation