MacKenzie Scott gave Native Forward $50 mn; organisation reveals how it will spend it

Scott, 56, is one of the world's best-known donors. (Getty images) Native Forward Scholars Fund (NFSF) has announced how it will use the entire $50 million unrestricted donation it received from philanthropist and Amazon founder Jeff Bezos' former wife, MacKenzie Scott. The organisation said every dollar of the gift will go towards supporting Native students through scholarships and long-term funding.NFSF provides scholarships to Native American students. According to the organisation, the funding will be divided into two parts. It will spend $10 million over the next five years to expand scholarships, adding around $2 million each year. The remaining $40 million will be placed into a permanent endowment that will continue supporting students for years to come.The announcement comes as the organisation says more students are seeking financial help for higher education. According to NFSF, its scholars have an average unmet financial need of $26,000, highlighting the growing financial challenges many students face while pursuing college degrees.The organisation said the decision balances the need to support current students while also ensuring future generations have access to educat...