Howard University in Washington, D.C., has announced a $10 million gift from the Karsh Family Foundation in support of a tuition assistance program.

The gift will enable the Graduation Retention Access to Continued Excellence (GRACE) Grant program to extend its support to more students who receive the maximum federal Pell Grant amount and have an expected family contribution (EFC) of near zero. Distributed according to student need, the GRACE program offers a 100 percent match for the Pell Grant and additional funding to fill the gap so that students can continue their education. Since the program was launched in 2014, retention and four-year graduation rates among GRACE Grant recipients have increased by 15 percent and 78 percent, respectively.

In 2020, the Karsh Family Foundation provided a $10 million gift to the university to endow the Bison STEM Scholars Program, which was renamed for Bruce A. Karsh and his wife, Martha L. Karsh, who established the foundation.

“Bruce and I are excited to support Howard University’s GRACE Grant Endowed Fund, which offers an extraordinary opportunity to change the lives of incredibly talented students,” said Martha Karsh. “We are investing in the next generation of great leaders.”

(Photo credit: David Mark via pixabay)