Gates Offer Grants for Low-Income Students

Posted on December 9, 2008
Filed Under News, The Daily Prereq | By Nikki Martinez

Everyone’s favorite Harvard dropout (sorry, Zuckerberg) is lending a helping hand to low-income college students. The New York Times reports that the Bill and Melinda Gates Foundation is offering $70 million in grants to help students from low-income backgrounds finish college (isn’t it ironic?). Clearly, the timing couldn’t be better. Comments Richard Kahlenberg, an expert on income inequality and education:

“With college endowments declining and states cutting higher education budgets, low-income college students will be more squeezed than ever, and attrition rates are likely to increase.”

The Foundation hopes the grants will help to double the number of low-income students who earn college or vocational degrees by age 26. Currently only about 25% of students from low socioeconomic backgrounds earn post secondary degrees. Props to B.G. for investing in our young people — while they’re still able to attend college in the first place.

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