The donation to the United Negro College Fund, Spelman College and Morehouse College is the largest ever individual gift to HBCU scholarships
Netflix CEO Reed Hastings and his wife, Patty Quillin, announced Wednesday morning that they have given $120 million toward scholarships at historically Black colleges and universities — the largest individual donation to the institutions to date.The two colleges, focused on educating women and men, respectively, are located in Atlanta. They are top producers of Black graduates receiving Fulbright scholarships and pursuing doctorates.
Hastings has been involved in education throughout his life. After graduating from Bowdoin College, he taught math in Swaziland through the Peace Corps. Since then, he’s financed a 1998 campaign to push for charter schools, provided start-up funding to the Aspire Public Schools charter network and served on the California Board of Education and KIPP Foundation.
The donation makes up nearly 10% of Thomas’ goal to reach a $500-million endowment. Now, he plans to raise the target amount.Ideally, the endowment would be large enough so the college can admit students without considering their family’s economic status. Thomas hopes Hastings and Quillin’s donation will indicate to other high-income people that historically Black colleges and universities are worth investing in.High rates of annual alumni giving have not been enough to overcome educational inequality. To reverse the inequity, more people must support HBCUs, a news release said.If not for a scholarship, the school’s 2020 valedictorian, Kendra Grissom, wouldn’t have been in the same position to help others, Campbell said.
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