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Bloomberg will donate $175 million each to the endowments of Meharry Medical College, Morehouse School of Medicine and Howard University College of Medicine and $75 million to Charles R. Drew University of Medicine and Science, Bloomberg Philanthropies announced.
The donations will more than double the size of three of the four medical schools’ endowments, the charity said, though it did not specify which schools.
Bloomberg previously donated $100 million to the four medical schools in 2020 to help reduce debt for enrolled students.
Xavier Oschsner College of Medicine, a medical school under development in New Orleans, will also receive a $5 million grant.
The donations are among the largest-ever donations given to an HBCU, according to the Associated Press, surpassing a $100 million donation to Spelman College from billionaires Ronda Stryker and William Johnston earlier this year.
Only about 5% of doctors in the U.S. are Black, according to the Association of American Medical Colleges. In 2022, about 10% of medical degrees to Black graduates were awarded by HBCUs, according to statistics from the Department of Education.
The donations will more than double the size of three of the four medical schools’ endowments, the charity said, though it did not specify which schools.
Bloomberg previously donated $100 million to the four medical schools in 2020 to help reduce debt for enrolled students.
Xavier Oschsner College of Medicine, a medical school under development in New Orleans, will also receive a $5 million grant.
The donations are among the largest-ever donations given to an HBCU, according to the Associated Press, surpassing a $100 million donation to Spelman College from billionaires Ronda Stryker and William Johnston earlier this year.
Only about 5% of doctors in the U.S. are Black, according to the Association of American Medical Colleges. In 2022, about 10% of medical degrees to Black graduates were awarded by HBCUs, according to statistics from the Department of Education.
