Former NBA star Earvin “Magic” Johnson is teaming up with South Carolina State University’s school of business to raise money toward an endowed scholarship, which will bear his name.
SC State Interim President Dr. Franklin Evans told South Carolina Radio Network that such a philanthropic effort is the first in the university’s history. “He is partnering with us to put together a $2.5 million endowed scholarship,” Evans said.
Evans said that Johnson was a part of the college’s executive speaker series last year and made a commitment to the university then. “He promised at that time that he was going to certainly keep South Carolina close to his heart.”
The university will announce further details about the scholarship at a special fundraising event on Sunday in Washington, D.C., where Johnson is expected to make a major announcement about his partnership with SC State. The state’s only public historically-black university has been steadily regaining its financial footing after years of deficits led the Southern Association of Colleges and Schools (SACS) to put its accreditation on probation. However, legislators replaced SC State’s entire board of trustees in 2014 and the school received $18 million in state grants and loans to help reduce its debt.
SACS will decide later this month whether to end the probation or revoke SC State’s accreditation entirely.