In a stunning act of philanthropy, the well known, very Republican leaning Koch brothers announced a gift of $25 million to the United Negro College Fund (UNCF). Charles and David Koch are billionaires with hugely profitable companies that range from paper to textiles. They are also anti-Obamacare, anti-welfare anti-abortion and by all accounts hardcore businessmen.
The brothers have a well known dislike of President Barack Obama and have spent millions supporting staunch Republican candidates and anti-Obama groups. As such, the recent UNCF donation may seem unusual or odd to some observers; however, the Koch brothers have been supporting the UNCF since 1995. In fact, reports reveal that they have already given $1.5 million to the organization.
The current president of the UNCF, Dr. Michael Lomax, expects to hear a fair share of criticism regarding the group’s acceptance of the grant. But he is prepared. “Criticism is a small price for helping young people get the chance to realize their dream of a college education, and if I’ve got to bear the brunt of someone else’s criticism to ensure that we have the resources to help those students, then I can handle it, and I can take the heat,” he told PBS News Hour recently. He went on to say, “We [Koch Brothers] talked about students. We talked about the kinds of support they need. We talked about the shared belief that there are a lot of talented young people there whose lives will be transformed if they get a chance to complete a college degree.”
According to the UNCF, about $18.5 million will support 3,000 merit-based scholarships to black students and $6.5 million will be used for the the general support of member HBCUs and the UNCF. The program’s name is “UNCF/Koch Scholars Program.”
There are two main qualifications for scholarship applicants. Students must exhibit exemplary interest in entrepreneurship, economics and innovation that contributes to overall well-being. They must also attend one of the UNCF’s 37-member private historically black colleges and universities or one of the 250 colleges and universities where the Charles Koch Foundation has an existing program.
More information can be found by clicking the following link: UNCF/Koch Scholars Program
