Princeton’s Student Body Will Expand After $20 Million Gift From Artist Kwanza Jones And Private Equity Billionaire José Feliciano
Prestigious Ivy League institution Princeton University is set to expand its student body by 500 students, or 10%, in the 2022/2o23 academic year after a historic $20 million gift by alumni Kwanza Jones and her husband José Feliciano, the co-founder of private equity firm Clearlake Capital Group.
The gift is the largest from Black and Latino alumni donors in Princeton’s history and will be used in part to construct two new dormitories, one will be named for Jones and the other for Feliciano, as the university expands. With a larger student body, Princeton is broadening access to the elite institution, hoping to create new opportunities for students from underrepresented backgrounds to use the university as a springboard.
In symbolism and scope the gift is a watershed.
At the urging of some alumni, including Jones during a national conversation on race this year, Princeton recently removed President Woodrow Wilson’s name from its international affairs school. Now, as America’s fourth oldest university expands, two new dormitories will bear the names of alumni from minority backgrounds.
“This expansion will give access to more people and more deserving students, some who are first generation college students or those who are coming from backgrounds that perhaps you wouldn't associate with Princeton,” Feliciano tells Forbes. “It’s helping to make Princeton available to a broader group of deserving students and for that group of students to be even more representative of our society.”
“These will be the first two buildings named after Black and Latino benefactors ...
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