FL S0876

Establishes the Historically Black Colleges and Universities Matching Endowment Scholarship Program administered by the Department of Education to provide scholarships to students at participating HBCUs in Florida

Appropriates $2 million to be transferred to the State Student Financial Assistance Trust Fund for the program

Requires each participating HBCU to provide $500,000 in matching funds by June 30, 2021 to participate in the program

Principal funds (both state appropriation and matching funds) remain permanently in the trust fund, with only the interest earned used to fund student scholarships

Interest accumulated annually is equally divided among participating institutions to award scholarships to enrolled students with unmet financial need