$50 Million Investment in Historically Black Colleges Could Inform Policies for Disadvantaged Students Worldwide

In Atlanta, Georgia, the Arthur M. Blank Family Foundation just announced a new $50 million, 10-year scholarship commitment that could reshape how philanthropies support success at university. The focus is less on tuition promises and more on the overlooked completion gap that keeps many students from graduating.

The foundation’s investment targets students at four of Atlanta’s Historically Black Colleges and Universities (HBCUs): Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College. Beginning in 2026, the program is expected to assist nearly 10,000 students through so-called “gap scholarships” — funds that cover the final shortfall between financial aid and actual costs.

Focusing on Completion, Not Just Access

Education analysts have long noted that thousands of U.S. college students leave school within months of graduation because of unpaid balances as small as $500 to $2,000. By directing resources specifically to students in good academic standing who have exhausted other aid, the Blank Foundation aligns with a growing national trend toward completion-based philanthropy.

“Even a small financial gap can be the difference between walking across the stage or walking away,” said Fay Twersky, president of the Arthur M. Blank Family Foundation. “This is a material investment in hope.”

The approach follows research from the United Negro College Fund and the Institute for Higher Education Policy showing that last-mile aid can raise graduation rates by 10 to 15 percentage points at minority-serving institutions.

Economic Impact Extends Beyond Campus

Atlanta’s HBCUs already contribute $1 billion annually to the region’s economy. Graduates earn 57 percent more over their lifetimes than non-degree holders, a return that translates into higher spending power and tax revenues for Georgia. By increasing graduation rates, the initiative is expected to strengthen both local workforce pipelines and family stability across the state.

Australia’s own higher-education sector faces similar challenges. Universities report that students from low-income, Indigenous, or regional backgrounds are still far less likely to graduate, even when they qualify for entry. A recent Universities Australia study found that small financial pressures — from rent increases to transport costs — remain among the most common reasons students withdraw before completing a degree.

While the U.S. and Australian systems differ, the principle is the same: completion depends on stability, not just access. Targeted “gap scholarships,” like those pioneered by the Arthur M. Blank Family Foundation, could help universities retain students who are academically capable but financially stretched.

Programs like this could change the conversation from enrolment numbers to real outcomes. A single semester’s fees or living cost shortfall can undo years of effort. Closing that gap is one of the most cost-effective interventions any government or foundation can make.

Model for Other Foundations

Arthur Blank, co-founder of The Home Depot, said the gift reflects his foundation’s long-term relationship with Atlanta and its institutions. “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,” he said.

Policy observers say the 10-year commitment could serve as a blueprint for other donors. Rather than funding one-off scholarships or campus facilities, it ties philanthropic money to clear student outcomes and measurable economic impact.

“This signals a mature phase of philanthropy,” said Dr. Elena Miles, an education-finance researcher in Washington, D.C. “Foundations are shifting from access to completion — from getting students in the door to getting them across the finish line.”

Continuing a Legacy of HBCU Support

The Blank Foundation has a record of targeted HBCU investments — including a $10 million innovation lab at Spelman College, athletic field refurbishments across four campuses, and a hospitality credential program at Morris Brown. Together with the new scholarship initiative, these efforts underscore a strategy focused on long-term institutional capacity and student success.

Broader Implications

If other major foundations replicate the model, gap scholarships could become a cornerstone of U.S. college-completion policy — particularly for low-income and first-generation students. For Atlanta’s HBCUs, the initiative offers not only financial relief but a signal that their students and missions remain central to America’s educational future.

For more information: www.blankfoundation.org