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FAMU to receive share of $60 million HBCU Transformation Project

Posted at 8:09 PM, May 17, 2022
and last updated 2022-05-17 20:09:12-04

TALLAHASSEE, Fla. (WTXL) — Florida A & M University is one of several universities that will reap the benefits of the new HBCU Transformation Project.

The new, landmark collaboration aims to drive long term progress for Historically Black Colleges and Universities.

The project dedicates an initial donation of $60 million from Blue Meridian Partners towards increasing enrollment, improving student retention and graduation ....rates, and increasing staff capacity for HBCU's across the country.

That's all thanks to a collaboration between The Thurgood Marshall College Fund, the United Negro College Fund, and Partnership for Education Advancement.

President & CEO of the Thurgood Marshall College Fund Dr. Harry Williams says a portion of the funds will prove to be a great asses for Florida A & M University, especially when it comes to processing student aid.

"We're going to make sure that they have the student support services there, in place, such as financial aid to support the students when they come to campus," Dr. Williams said. "You don't have to stand in long lines waiting to get your financial aid. ... We want to make sure you have the capacity with inside of these facilities to be able to handle the increase of applicants."

Dr. Williams says through the program, he'd like to see national HBCU enrollment grow from where it currently stands at around 300,000 students to over 400,000.

To help ensure that happens, the program focuses on six key goals:

  • Supporting institutional improvement and innovation
  • Building institutional capacity to lead and sustain ongoing improvements
  • Pursuing increased public funding to rectify historic inequities
  • Attracting private capital to grow endowments and reserves
  • Strengthening community and regional economic development partnerships
  • Re-orienting the narratives surrounding HBCU's toward their impact on social and economic outcomes

FAMU is among the first 20 HBCU's in the nation to gain access to funding from the HBCU Transformation Project. Williams says FAMU's portion of the funds will available immediately.