Source: News and Observer

Triangle semiconductor maker Cree announced their plans to donate $4 million to North Carolina Agricultural and Technical State University. NC A&T is the largest HBCU in the nation and is a top producer of Black engineers, the News and Observer reports.

The $4 million gift will fund a scholars program for STEM students at the university. The goal is to produce more Black students who will graduate without debt, the News and Observer reports. Student debt is one of the largest causes of the disparity between debt between white and Black households.

Cree expects the program to fund eight to 10 students per year and they plan to make it permanent, hopefully. 

“What we are trying to do here is make a big difference,” Cree CEO Gregg Lowe said. “… I am a big believer that education enables so many different paths forward. It creates a sort of fork in the road for a lot of kids that don’t have opportunity.”

Read the full story from the News and Observer.