A pair of philanthropists and graduates of Howard University Eddie and C. Sylvia Brown make the largest alumni donation HBCU has ever received.
According to a press release, the Browns have pledged $ 5 million to be allocated for access to the Continuing Graduation Detention Achievement (GRACE), a needs-based fund set up by Howard University President Dr. Wayne AI Frederick in 2014
“We are extremely grateful to Eddie and Sylvia for making this historic gift to Howard University,” Frederick said in a statement. “The GRACE grant has helped remove financial barriers to education for Howard students, and I am thrilled that Brown has been inspired to make such a generous gift to this important fund. I hope that students will be inspired by their history and generosity, and that others in our alumni community will consider the many ways in which they can also influence current and future generations of Howard students.
RELATED: Chadwick Bozeman’s master class aimed at Howard University
Brown says they are returning because Howard gave them the opportunity as a community organizer to help them get into school when they had little money as they grew up.
“I moved to Allentown, Pennsylvania when I was 15,” said Eddie Brown, according to the university. “We had a community organizer who would take care of the little black children in the community. One day he came to me and my mother and said, “I got in touch with a woman who wanted to help a young African-American student go to college.” In fact, my 10th grade English teacher was a graduate of Howard [who] said, “You have to go to Howard University.”
Eddie later received a full scholarship due to his family’s financial situation, which allowed him to graduate with a degree in electrical engineering. He later co-founded the Baltimore-based Brown Capital Management, which now manages $ 17.3 billion in assets and is one of the oldest black asset management companies in the country.
“We were very lucky to be able to go to Howard,” said Sylvia Brown. “I had student loans and I know how difficult it is. Being from a family of four, my parents did their best, but that was never enough to pay all the fees. And that was our mantra, to give to others and help them at least get a bachelor’s degree to have a good foundation. “
“Our only hope is that the students who take advantage of our contribution will do their best,” she added.
GRACE Grant provides financial relief to students and aims to increase the graduation rate on time. According to Howard University, students in the program receive a 17% increase in detention and an average four-year graduation rate of 78% compared to those who did not receive the grant.