Thurgood Marshall College Fund (TMCF) has received $5 million from philanthropist Stephen Feinberg’s charitable foundation to fund a scholarship program for students at historically Black colleges and universities (HBCUs) and Predominantly Black institutions (PBIs).
The Stephen Feinberg Scholarship Program will give need-based scholarships to students at these institutions who are facing financial hardships.
Feinberg is the co-founder and co-CEO of global private equity firm Cerberus Capital Management.
“At a time when so many students are struggling to attend and graduate from college, we are thrilled that the foundation has invested in HBCUs by creating the Stephen Feinberg Scholarship Program,” said Dr. N. Joyce Payne, Founder of TMCF. “This scholarship is historic and will greatly enable TMCF to continue the important work of recruiting, retaining and graduating scholars.”