Barack and Michelle Obama have launched a $100 million college scholarship program. The former first family of the United States unveiled the mouthwatering package with the CEO of Airbnb to support college graduates looking to get into public service.
The program, named the Voyager Scholarship, seeks to provide financial aid to alleviate the burden of college debt and also provide meaningful travel and networking opportunities, according to Bloomberg.
It is being funded with a $100 million personal contribution from Airbnb CEO Brian Chesky to the Obama Foundation. In its first year, the program is expected to support 100 students and it is available to students entering their junior year of college at an accredited four-year college or university in the U.S.
Students must be U.S. citizens and demonstrate a financial need. They must also be permanent residents or DACA recipients. Applications are currently open, with a deadline of June 14 and students will be notified in September, according to Bloomberg.
“So many people have a passion for public service, but they don’t go into public service because they can’t afford to. They have too much financial burden looming over them,” Chesky said in a video. “We need a generation of leaders who are willing to cooperate and build bridges, but it’s hard to build a bridge if you haven’t seen the other side of the river.”
As part of the package, students will also receive a “Summer Voyage” work-travel experience, including a $10,000 stipend and free Airbnb housing. For the next 10 years after graduating from college, Airbnb will provide the students with a $2,000 travel credit.
Former President Obama said: “If we want this next generation of leaders to be able to do what they need to do, they have to meet each other. They have to know each other. They have to understand each other’s communities, You’re going to find young people from every corner of this country who are going to be future change makers. There are leaders everywhere. We just have to find them.”
Michelle Obama also added: “Education is personal for me. I’ve met so many young people who are interested in public service, but they’re wondering how they’re going to pay for school or whether they’ll get to see the world beyond their own community. We could not be more grateful to team up with Brian to help out these young people on their journey to create change.”
