Koch Brothers Donate $25 Million to the United Negro College Fund

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The ultra conservative Koch Brothers today announced that they have donated $25 million to the United Negro College Fund, whose members include 37 Historically Black Colleges and Universities.

The donation from the Koch Industries Inc. and the Charles Koch Foundation will provide nearly 3,000 merit-based awards to African-American undergraduate, graduate and post-doctorate students.

Key elements of the donation include:

$18.5 million is directed to the UNCF/ Koch Scholars Program and its administration. Funds will be provided for exemplary students with demonstrated financial need and an interest in the study of entrepreneurship, economics and innovative ways to contribute to well-being of individuals, communities and society. The funds also will be used to provide an annual summit, mentorship opportunities and school programs;

$6.5 million is provided for general support to HBCUs and the UNCF, with $4 million set aside for the 37 UNCF –member and HBCUs and their students to provide financial relief related to the Parent PLUS loan crisis.

The UNCF has published a 20-page report titled "The Parent Plus Loan Crisis: An Urgent Crisis Facing Students at the Nation's HBCUs," which stated that restrictive U.S. Department of Education guidelines have made it difficult if not impossible for students to attend HBCUs.

Read the rest at The North Star News