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Thomas added that 60% of Morehouse students are PELL grant eligible and come from households that earn $40,000 a year or less.

\"This liberation gift will make a world-class college education possible for students from struggling families,\" he said. \"They will gain the freedom to graduate debt-free.\"

The UNCF awards more than 10,000 student scholarships each year and provides financial support to 37 historically black colleges and universities.

Michael L. Lomax, the CEO of the of the UNCF, said he felt \"uplifted\" by the support from Hastings and Quillin.

\"Dr. King famously reminded us that 'the arc of the moral universe is long, but it bends toward justice.' I believe the arc does not bend toward justice on its own,\" Lomax said in a statement. \"We must bend it with all the strength and power we have.\"

\"Patty and Reed are helping bend the arc toward justice,\" he added. \"I feel a profound sense of responsibility to steward their incredible gift to maximum impact and ensure that it advances their belief in and commitment to the principle that 'Black lives matter.'\"

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