The Black Lives Matter Global Network Foundation launched a new relief fund Monday aimed at Black college students, alumni and dropouts overburdened by mounting education costs and the student loan debt crisis.
The foundation said it set aside $500,000 for the fund and plans to award more than 500 recipients with relief payments ranging from $750 to $4,500. A public application process for the fund opened on Monday, and recipients will receive their money in January if selected. Details about the fund were shared with The Associated Press ahead of the launch.
The BLM foundation’s Student Solidarity Fund is an expansion of a previous initiative it started last year as millions of Americans struggled to make ends meet amid economic uncertainty in the coronavirus pandemic. This time the foundation said it intends to use philanthropic dollars to draw attention to issues of economic injustice, especially while a proposed federal student debt forgiveness plan is held up by litigation from opponents.
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