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Reading: MacKenzie Scott Donates $50 Million to Boost Native American Scholarships
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COINTURK FINANCE > Business > MacKenzie Scott Donates $50 Million to Boost Native American Scholarships
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MacKenzie Scott Donates $50 Million to Boost Native American Scholarships

Overview

  • MacKenzie Scott donates $50 million to Native Forward Scholars Fund.

  • Funds will expand scholarships and develop a future endowment pool.

  • Demand far exceeds current scholarship supply amid education policy shifts.

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Angelique Albert, CEO of the Native Forward Scholars Fund, was elated upon learning that a planned donation had far exceeded expectations. A call from MacKenzie Scott, the well-known philanthropist, brought news not of the anticipated $15 million, but a significant $50 million donation aimed at supporting the education of Native students. In an era where educational costs continue to soar, these funds are set to relieve the financial burden on many aspiring students, opening the doors to opportunities previously out of reach.

Contents
How Will the New Funds Be Utilized?What Challenges Do Native Students Face?

A comparison with past donations reveals consistent support for underrepresented communities in higher education. Following an earlier donation from Scott in 2020, which amounted to $20 million, the Native Forward Scholars Fund was significantly bolstered, allowing them to create an endowment fund and several new programs. This steady pattern of support signifies a broader commitment by Scott towards educational endeavors aimed at underserved groups.

How Will the New Funds Be Utilized?

The Native Forward Scholars Fund aims to distribute the $50 million primarily through scholarships. Albert plans to extend scholarships to an additional 400 students as a direct application of the newly acquired funds. Moreover, there’s consideration for establishing a dedicated endowment to sustain future scholarships.

“I don’t know that people really understand how transformative it is when you take a $5,000 scholarship and put it into the hands of someone who is brilliant and talented,” said Albert.

What Challenges Do Native Students Face?

Applicants vastly outnumber the scholarships available, with only about 1,000 out of 7,000 applicants receiving assistance this year. Factors like the rollback of diversity, equity, and inclusion policies have influenced this growing demand. Additionally, changes to FAFSA also contribute to the challenges faced by Native scholars.

Since its inception in 1969, Native Forward has been a critical ally for Native Americans pursuing further education. Their work has led to notable alumni like Debra Haaland, the first Native U.S. cabinet secretary, and esteemed writer Tommy Orange. With over 22,000 scholarship recipients, their impact in educational attainment spans across a diverse range of professionals.

“We can only fund about 22 percent of the students who apply—and that’s on a typical year,” Albert highlighted the ever-growing demand.

Furthering her commitment to education, Scott has also made recent donations to establishments like the UNCF, backing historically Black colleges and universities with $70 million. Her philanthropic actions signify a focus on education as a lever for change in marginalized communities.

Angelique Albert expressed optimism about Scott’s ongoing contributions and the anticipated outcomes these donations will yield. “It’s a much different world than it was five years ago,” she noted, hopeful that the future would see significant advancements due to these philanthropic efforts. This gesture reflects a growing recognition of educational equity as a foundational component for community development.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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