Tuskegee University receives $5 million for student scholarships

Tuskegee University receives $5 million for student scholarships

Tuskegee University has announced a $5 million gift from the charitable foundation established by Cerberus Capital Management co‐founder and co‐CEO Stephen Feinberg.

One of the largest single gifts ever to the university will establish the Stephen Feinberg Scholarship Program in support of need‐based scholarships for students with financial challenges.

"Steve and I have spoken extensively about the rich history and mission of Tuskegee, which make it a very special and unique institution. His commitment to improving the lives of African-American students who have financial challenges is exceptional and inspiring," said Tuskeegee trustee Gregory S. Nixon. "In short, the Feinberg Scholarships will change lives."

"We are extremely appreciative of the foundation's generous investment in Tuskegee and its commitment to our students," said the university's interim president, Charlotte P. Morris. "African-American families have been hit inordinately hard by the pandemic and by the recession....The Stephen Feinberg Scholarships will provide vital need‐based assistance that will allow students to continue their studies in earnest."