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The Arthur M. Blank Family Foundation is donating $50 million to help students at four of Atlanta’s Historically Black Colleges and Universities (HBCUs) overcome financial barriers and earn their degrees.
The foundation, chaired by Home Depot co-founder Arthur M. Blank, will distribute the funds over the next 10 years. The initiative will provide gap scholarships aimed at increasing graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College.
According to the foundation, many students at these institutions qualify for Pell Grants, which are federal need-based awards that do not have to be repaid. However, Pell Grant recipients often face additional financial challenges and are more likely to leave college before completing their degrees. The Blank Foundation said the new scholarships are designed to close that gap — with a goal of improving graduation rates by 10 percent.
Starting in 2026, the program is expected to support about 10,000 students across the four campuses.
“Atlanta holds a special place in my heart and will always be an integral part of our family foundation’s giving,” said Blank. “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.”
