Rising Men of Morehouse

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Support for Students

Access to a Morehouse education should be about ability—not ability to pay. As the costs of providing higher education rise and government support dwindles, colleges and universities across the country are tackling the imperative to make education more accessible and affordable.

Every rising Man of Morehouse must have the opportunity to complete his education and earn the distinction of becoming a Morehouse Man. Many of our students, like their peers nationwide, struggle to meet the costs of a college education. Financial barriers can make the journey difficult or even end it before graduation; lack of funding is a major factor for students who do not complete their degrees.

Cost also can prevent top scholars from choosing a Morehouse education in the first place. And the competition in higher education for gifted students of color is fierce. Leading liberal arts colleges, top-ranked public universities, and Ivy League institutions all vie for many of the same high-achieving students of color, offering full scholarships and a multiplicity of other incentives.

SUCCESS BEGINS WITH ACCESS. Scholarships are the most direct and effective way to offset the costs of education. They enable scholars to focus on their studies without worrying about finances—and to begin their futures without overwhelming debt. Endowed scholarships grow in perpetuity to create opportunities for students not just for today, but far into the future. Student emergency funds provide short-term financial support to assist with unexpected, unforeseen, and unavoidable emergency expenses.

CREATING FINANCIAL SUSTAINABILITY— FOR STUDENTS AND THE INSTITUTION. Approximately 50 percent of our scholars come from households earning less than $40,000 per year, and more than 80 percent of Morehouse students receive financial aid in the form of grants, scholarships, and loans. Additional support for scholarships and incentives to attract the most talented men from around the world will allow us to offer a Morehouse education to future leaders who will solve complex problems and make a global impact.

Realizing excellence means graduating every Man of Morehouse. To meet our strategic goal to increase all of our financial aid resources over the next five years and reach a 90 percent, sixyear graduation rate by 2026, additional financial support will be essential.

We are working toward a future in which our endowment will allow the financial flexibility to support all deserving scholars, and the scholarships we offer students will be need blind. As more alumni and friends become involved in this goal, Morehouse will ensure that every qualified student—regardless of finances—can afford an education.

Campaign Goal

ƒ $200 million

Campaign Priorities

ƒ Merit- and need-based scholarships ƒ Emergency funds ƒ Support services

0 Six in ten Morehouse scholars take out federal loans to pay for their education. Their families also tend to invest in their Morehouse education, which drains family finances. Black households have the lowest median net worth, lagging behind Asian, white, and Latin Americans families. Taking on student loan debt further exacerbates the wealth gap between Blacks and other racial groups.

HOW FAMILIES ARE PAYING FOR A MOREHOUSE EDUCATION

47%

Percentage of Morehouse students receiving Pell Grants

20 40

67%

60 RISING MEN80 100 Percentage of Morehouse students/families taking out federal loans

“Morehouse College is probably the best thing that has ever happened to me. From the spaces and places that I have been able to access, to the life-long relationships made over the last four years, there is not anywhere else on earth that compares.”

RODERICK HART III ’22

senior, political science and sociology major recipient, mabel lindsay gillespie endowed scholarship

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Rising Men of Morehouse

Support for Students

With endowments at elite private, liberal arts schools approaching nine times the value of those at Historically Black Colleges and Universities (HBCUs), it is impossible to unsee the discrepancy and the competitive financial disadvantage HBCUs face. This presents a longstanding challenge for Morehouse and is one that must be met to ensure we can continue to serve our constituency.

Majority institutions began focusing on endowment funds early in their trajectories. Most of the schools listed on page 29 began operations in the late 19th century (Williams began in 1793 and Amherst College opened in 1821), as did Morehouse. But the target market of these schools when they began was quite different from that of Morehouse. While their outreach was to the progeny of people with some degree of affluence, Morehouse opened to educate freed, formerly enslaved Black men. There was limited funding in families. Sending young men to college at that time was cost-prohibitive, as they were needed at home to secure scarce dollars for their families. Soliciting contributions to build the College’s endowment was challenging, at best. But over time, as Black wealth and assets were increased, and Morehouse became universally recognized for its contributions to society, alumni and friends took great pride in the College and invested much needed fiscal support. That legacy built the multi-million-dollar endowment that we boast today. Standing today at $275 Million, Morehouse is laser-focused on the need to build this critical fund.

“In order to attract and retain young men worthy of the Morehouse experience, we will need to grow our endowment to $1.5 Billion,” according President David Thomas. “If Morehouse is to continue remaining competitive with other elite private, liberal arts schools, we need to be able to ensure that we have the scholarships, support services, and academic resources.”

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Rising Men of Morehouse

Endowment Disparities between Top Liberal Arts Colleges and Historically Black Colleges and Universities

Top 5 Liberal Arts Colleges

Endowment Tuition, Room + Board Tuition, Room + Board (Four Year Total) Undergraduate Enrollment Endowment $$ Per Enrolled Student

1 Williams College

2 Amherst College

$2,000,000,000 $74,660 $298,640 1,962 $1,019,368

$2,500,000,000 $77,435 $309,740 1,745 $1,432,665

3 Swarthmore College $2,100,000,000 $73,206 $292,824 1,437 $1,461,378

4 Pomona College

$2,300,000,000 $75,210 $300,840 1,477 $1,557,211

5 Wellesley College

$2,200,000,000 $79,040 $316,160 2,280 $964,912

Top 5 Historically Black Colleges and Universities

1 Spelman College

2 Howard University

3 Xavier University of Louisiana

$390,000,000 $43,244 $172,976 2,207 $176,710

$712,000,000 $43,594 $174,376 7,857 $90,620

$170,000,000 $36,700 $146,800 2,517 $67,541

4 Hampton University $280,600,000 $42,273 $169,092 3,063 $91,610

5 Morehouse College $275,000,000 $43,508 $174,032 2,152 $127,788

Source: Rankings based on the 2022 US News & World Report Best HBCU list. *Hampton University, Morehouse College, and Tuskegee University (not included) tied for fourth place in the 2022 U.S. News & World Report Best HBCU rankings.

“MOREHOUSE FACULTY ARE INVESTED IN THE SUCCESS OF EACH SCHOLAR. THEY HELP STUDENTS TO BECOME STRONG INTELLECTUALLY, GIVE THEM OPPORTUNITIES TO RISE AS LEADERS, AND PROVIDE THEM WITH TRANSFORMATIVE EXPERIENCES, INCLUDING WORKING WITH THEIR PROFESSORS AS THEY CONDUCT IMPORTANT RESEARCH.”

KENDRICK BROWN, PH.D.

Provost and Senior Vice President, Academic Affairs