Three brothers are working to create endowments to help students afford to attend historically Black colleges and universities.
"We felt like, 'Wow. We have to pay this [student loan] money back. How cool it would have been if we could have had some additional resources to help ... pay for school,'" Victor, the founder and CEO of
In 2021, student loan debt exceeded $1.7 trillion, according to estimates by the Federal Reserve. This reality is even bleaker for Black Americans, who owe an average of $25,000 more in student debt than their white counterparts, according to the National Center for Education Statistics.Victor told"Good Morning America" that his family's experience with college inspired him to create endowments for students to attend HBCUs.
"The events ended up being very successful, so we've turned it into a way to raise money for our endowment," Chantin explained."That's really how we raised the majority of money, hosting events and making connections with businesses throughout the city. "We've got a lot of personal gifts from people just by doing ads on Facebook and Instagram and things like that," Victor said."People are really ... into the cause, and that really has helped us."With these donations, the Collins brothers said the C-Note Foundation raised $26,000 for North Carolina A&T. This money was then matched by the school to create an endowment worth $52,000.
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