The Thurgood Marshall College Fund (TMCF) in Washington, D.C., has announced $20 million in scholarships for the 2023-24 academic year.

Distributing 98 percent of its support to 47 historically Black colleges and universities (HBCUs) and related Black institutions, TMCF awarded scholarships to 2,105 students, a 23 percent increase year-over-year. According to the National Center for Education Statistics, HBCUs are historically underfunded by an estimated $12.8 billion. Scholarships help bridge the racial wealth gap and reduce debt for low-to-middle-income Black students who have been disproportionately shouldering the strain of student borrowing. Over 70 percent of public HBCU students are from low-income backgrounds, and many are the first in their families to attend college.

“Despite…the U.S. Supreme Court decision that overturned Affirmative Action…TMCF keeps thriving and showcasing why the organization matters more than ever,” the fund wrote in a statement. “TMCF remains steadfast in its determination to make sure HBCUs have the resources needed for long-term growth and success.”

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