Arthur M. Blank Family Foundation Announces $50 Million Grant for Atlanta HBCU Students

Arthur M. Blank Family Foundation has announced a $50 million grant to support four Atlanta’s Historically Black Colleges and Universities (HBCUs) students.

The 10-year investment will provide gap scholarships to increase the number of students graduating from Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College. 

Arthur M. Blank Family Foundation’s Economic and Community Impact 

For many students, finance stands as a major barrier in the way of earning their diplomas. Eligibility rates for Pell Grants are particularly high across these four HBCU schools. 

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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 that doesn’t have to be repaid. 

Pell-eligible students tend to face more unmet needs and therefore take out more loans and work more hours. They also face higher degrees of food and housing insecurity, and are at greater risk of forgoing higher education or leaving school without a credential.

“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,” Dr. F. DuBois Bowman, President, Morehouse College said.

Students who are in good academic standing and have fully exhausted other financial options will be eligible to receive funding. Eligible financial options include scholarships, federal grants, state assistance and loan programs, with funding awarded at the discretion of their respective institution.

The funding will largely support students in their junior and senior years. Financial stress can be most acute during this time as family resources may be spread thin or additional siblings begin college. Arthur M. Blank Family Foundation’s investment in gap scholarships is designed to overcome the financial barrier, helping more students complete their education. 

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Beginning in 2026, the program is projected to support nearly 10,000 students, helping raise graduation rates across Atlanta’s HBCUs. It will also serve as a model for other philanthropies to expand investment in HBCU student success, driving broader impact.

Dr. Kevin E. James, President, Morris Brown College also said, “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.” 

Continuing the Foundation’s Legacy of HBCU Support 

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. The funding comes from the Blank Foundation’s Founder Initiatives portfolio, which includes support for essential institutions in Atlanta.

“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.”

The Blank Foundation‘s scholarship initiative is a natural extension of its longstanding commitment to HBCUs. Previous investments include a $10 million grant 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, and $3 million to Morris Brown College to digitize a hospitality credential. 

Additionally, the foundation has supported Morehouse College’s golf program with a $400,000 investment and provided new football helmets for Morehouse and Clark Atlanta University student-athletes. These initiatives underscore the foundation’s dedication to empowering HBCUs and their students.

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“We recognize that these campuses, like many across the country, are home to generations of students whose promise inspires us,” he continued. “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.”