The scholarship available to 30 students pursuing undergraduate and graduate degrees will cover tuition, housing and living assistance.
Seven cities will receive the grant and technical assistance to design plans that can make college experience seamless for students in need.
Booker’s education plan proposes to invest in STEM Education, improving recruitment, retention rates and infrastructure at HBCUs and MSIs.
The Student Loan Hero survey found that student borrowers have many misconceptions related to loan deferring, repayment and interest rate.
Most of the borrowers want an expansion of student loan forgiveness, subsidized tuition for low-income households and tax sops to companies that offer student loan repayment programs.
The American Enterprise Institute report found that the share of high-income students borrowing has doubled between 1996-2016.
Sanders released his education plan for HBCUs and MSIs calling for increased funding in various sectors to support and strengthen them.