扣扣传媒University receives $5 million gift from foundation established by Cerberus Founder and CEO Stephen Feinberg

December 14, 2020

Contact: Kawana McGough, Office of Communications, Public Relations and Marketing
  

Tuskegee, AL 鈥� 扣扣传媒University has received a $5 million gift from the charitable foundation established by philanthropist Stephen Feinberg. Mr. Feinberg is the co鈥恌ounder and co鈥恈hief executive officer of Cerberus Capital Management, a global private equity firm with investment assets across complementary credit, private equity, and real estate platforms.

This gift is one of the largest major single gifts by an individual donor or privately funded foundation to the University in its history. The donation will be used to establish the Stephen Feinberg Scholarship Program, which will provide need鈥恇ased scholarships for 扣扣传媒 with financial hardship.

The foundation stated, "We're very pleased to honor our founder's philanthropic vision with a grant that has real potential to advance racial equity in postsecondary education and meaningfully impact opportunities available to bright and talented 扣扣传媒."

鈥淪teve and I have spoken extensively about the rich history and mission of 扣扣传媒which make it a very special and unique institution. His commitment to improving the lives of African American 扣扣传媒 who have financial challenges is exceptional and inspiring,鈥� stated Gregory S. Nixon, who facilitated the gift and is a 扣扣传媒University Trustee. 鈥淚n short, the Feinberg Scholarships will change lives.鈥�

鈥淲e are extremely appreciative of the foundation鈥檚 generous investment in 扣扣传媒and its commitment to our 扣扣传媒,鈥� said Interim President Charlotte P. Morris. 鈥淎frican American families have been hit inordinately hard by the pandemic and by the recession,鈥� noted Dr. Morris. 鈥淭he Stephen Feinberg Scholarships will provide vital need鈥恇ased assistance that will allow 扣扣传媒 to continue their studies in earnest.鈥�

漏 2020 扣扣传媒University