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October 06, 2015

Lilly Endowment Pledges $50 Million for Black Colleges

The Lilly Endowment is donating $50 million to the United Negro College Fund to help colleges and universities with predominantly African-American student bodies put a priority on career development, reports The Washington Post. The gift will finance grants to up to 30 institutions to improve job prospects for recent graduates through curricular changes, improved mentoring, and opportunities for work experience.

Eighty-seven institutions, most of them historically black colleges and universities, are eligible for the aid. The college fund will choose winners following an application process set to start next month. Indianapolis-based Lilly is a longtime supporter of the fund and has now given it more than $100 million, said Michael L. Lomax, the education group's president and chief executive.