- Frank Baker and his wife Laura Day have paid off the tuition debts of 50 high-achieving students at Spelman College
- The generous couple paid a total amount of $250,000 to enable the students to graduate
- Frank Baker is co-founder and managing partner of Siris Capital, and his wife, Laura Day Baker, is an interior designer and philanthropist
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As final year students at Spelman College graduated, some 50 high-achieving students have every reason to be happy because Frank Baker and his wife Laura Day settled their tuition balances.
With a $250,000 gift from Baker and his wife, the 50 brilliant but needy students will be able to graduate from the university.
According to a report by blackenterprise.com, Baker is co-founder and managing partner of private equity firm Siris Capital, and his wife, Day Baker, is an interior designer and philanthropist.
In parts of a statement sighted by Briefly.co.za, the couple noted that they are aware of the challenges black students face, especially women.
The duo indicated that the challenges have been made more difficult due to the current prevailing pandemic that has negatively impacted economies across the world.
''We hope that this gift will help lessen their financial burden as they start this promising next chapter in their lives and encourage them to persevere over life’s challenges,''Frank and Laura Baker told blackenterprise.com.
In addition to a $1 million amount set aside for the next three years to offset the debts of needy students, Baker has spent at least $250,000 in 2020 to cover the tuition of students so they can graduate with no balances owed.
Speaking to Forbes about his benevolent gestures, Baker indicated that he really has the needs of women at heart.
"My heart really goes out to our women in their senior year who can’t afford it any more and have to drop out,” Baker told Forbes.
This generous act comes after Briefly.co.za previously reported that Robert Smith, a billionaire and business titan, agreed to pay off the student loans for all graduating seniors at Morehouse College.
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