First Lady Melania Trump announced a $2 million scholarship initiative on Thursday through her Fostering the Future initiative, establishing a strategic alliance with Fox Corporation and IndyCar to expand academic opportunities for individuals aging out of the foster care system.
Fox Corporation and IndyCar are each contributing $1 million to the initiative, which will create scholarships at Indiana University and Purdue University. These funds are specifically designated for young people who have experienced the foster care system.
The announcement took place at the White House during an event attended by representatives from the involved organizations, including Fox Sports CEO Eric Shanks, Penske Corporation chairman Roger Penske, and IndyCar president Doug Boles. Several IndyCar drivers and youth from foster care backgrounds were also present.
"The greatest achievement America can make is not in technology, infrastructure or capital markets. It’s our children," Melania Trump stated during the event.
Eric Shanks, CEO of FOX Sports, expressed his company's commitment to investing in America's future through the partnership. "On behalf of Fox Corporation and our entire team at FOX Sports, we are extremely excited to partner with first lady Melania Trump and her visionary Fostering the Future initiative to fund scholarships at Indiana University and Purdue University, giving extraordinary students the tools to build bright futures," Shanks said.
The alliance was announced ahead of the inaugural Freedom 250 Grand Prix of Washington, D.C., an auto race scheduled for the weekend. The event aims to highlight the connection between education and sports. Race cars participating in the event will feature decals supporting the foster youth initiative, with the winning car displaying special branding. The race will be broadcast on FS1, FS2, and FOX, and will stream on FOX One.
Melania Trump established Fostering the Future in 2021 with the goal of securing college access, housing support, and transition resources for youth aging out of foster care. The initiative aims to address the statistic that less than 3% of former foster youth nationally complete a college degree.
