Meharry Medical College President James Hildreth announced the historically Black medical college will be using federal funding made available through the CARES Act to give each of its 965 students $10,000 — no strings attached.
The funding was made available via the Higher Education Emergency Relief Funds of the $2.2 trillion relief bill passed in March 2020. Approximately $14 billion was provided to the office of postsecondary education to create the fund, which was to be used to support students through the pandemic.
Hildreth made the announcement via video to the entire school, asking students to be good stewards of their cash but giving them full authority to manage it. The school will be issuing direct deposits as early as Wednesday, he said.
“I’m indeed thankful for those of you who work here day in and day out to carry out the Meharry mission” Hildreth said in the video. “I’m thankful for those who support the College with their resources. But mostly, I’m thankful for you students and the future of health care that is entrusted to you. That future looks bright. And because of that, students, I’m happy to make a very special announcement today.”