Amid the wave of generous donations that have flowed to historically Black colleges and universities throughout the country to eradicate student debt, nonprofit organizations are stepping up to lead efforts centered on alleviating financial burdens for scholars. The United Negro College Fund has joined forces with the Anheuser-Busch Foundation to create an emergency aid fund for HBCU graduates.
For many scholars, financial obstacles can impact graduation eligibility, preventing them from walking across the commencement stage and smoothly transitioning into the next chapter of their lives. Aware of the monetary struggles scholars face—which for some have been exacerbated due to the pandemic—the Anheuser-Busch Foundation gifted UNCF with $200,000 to provide emergency aid for students.
Through the fund, HBCU scholars can receive up to $2,500 to complete their degree requirements. This is the second year the nonprofit and the foundation have collaborated to cultivate an emergency fund. Last year they were able to assist 69 HBCU graduates.
Julio Suárez, a representative of the Anheuser-Busch Foundation, shared that the endowment is an extension of the foundation’s commitment to equity in education, and the funds will help scholars “secure the full benefits of a college degree and be able to pursue their professional goals.” The Anheuser-Busch Foundation has contributed over $5.5 million to UNCF.
News about the HBCU emergency fund comes months after the nonprofit teamed up with Deloitte Digital to create an online education platform dubbed HBCUv.
“For more than five decades, Anheuser-Busch and its foundation have championed UNCF’s efforts, making investments in HBCU students’ futures a priority and helping so many students with emergency funding at a time when they needed it the most to graduate,” Maurice E. Jenkins, Jr., UNCF’s Executive Vice President and Chief Development Officer, shared in a statement. “We thank the Anheuser-Busch Foundation for helping these talented, deserving students to realize their college graduation and make their dreams come true.”