North Carolina A&T University Receives $4 Million Gift from Cree Semiconductor!
Posted By: Will Moss on September 15, 2020 |
Triangle semiconductor maker Cree said Monday that it is making a gift of $4 million to North Carolina Agricultural and Technical State University, the largest historically Black university in the country as well as the top producer of Black engineering graduates.
The gift will fund a scholars program for students studying in science, technology, engineering and mathematics at Greensboro-based N.C. A&T.
The hope is that the money will increase the number of Black students who are able to complete their studies without debt and create a pathway to jobs after graduation.
On average, Black students have $25,000 more in student loan debt than white students four years after graduating, according to the U.S.
Department of Education. And 48% of all Black graduates owe more on their federal undergraduate loans four years after graduating, compared to 17% of white students. That disparity is one of the leading causes of the debt gap between Black and white households.
While N.C. A&T is the No. 1-ranked public Black college by U.S. News & World Report, the college also ranked sixth for the highest student debt at graduation among national universities. The median student debt was $28,360, and 60% of students received Pell grants, The News & Observer reported.
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