Students at North Carolina's historically black colleges and universities face higher student loan default rates than their peers at other state universities, according to data from the US Department of Education. Durham businessman Greg Lindberg wants to help change this.
Lindberg is the founder of Eli Global, an investment firm. He's drawn attention for donating $5 million dollars in the past two years to North Carolina politicians, many of whom are Republican.
Now Lindberg's pledged one million dollars for future students at the state's historically black colleges and universities. Five scholarship recipients will be identified with help from the NC Black Legislative Caucus Foundation. They must study business or a related field.
Starting in 2019, scholarship winners will receive $40,000 a year for five years. They will also be eligible for internships and mentorships through the insurance arm of Lindberg's company.