Obama, Airbnb's Brian Chesky launch $100M in scholarships

NEW YORK (AP) — The co-founder and CEO of Airbnb, Brian Chesky, has donated $100 million to the Obama Foundation to fund scholarships for students pursuing careers in public service and includes multiple stipends for travel.

The Voyager Scholarship will grant $50,000 to rising juniors to cover tuition costs over two years as well as a $10,000 grant and Airbnb credit to fund a summer experience designed by the student. Scholarship winners will also get an Airbnb credit worth $2,000 a year for 10 years after their graduation, which is in addition to Chesky's donation a foundation spokesperson said.

"You're going to find young people from every corner of this country who are going to be future change makers. There are leaders everywhere. We just have to find them," former President Barack Obama said in a video announcement Monday. He and Chesky will meet with scholarship recipients at an annual conference to talk about service and leadership.

Travel engenders curiosity and cooperation, Chesky said, acknowledging that many students face financial burdens that discourage them from entering professions or fields oriented toward service.

“There are young people across the country who have a passion for public service, but can’t pursue it because of their student loan debt,” Chesky said. "We want to help reduce that burden.”

Chesky's donation is the largest the Obama Foundation has received, tied with a $100 million donation from Amazon founder Jeff Bezos in November.

Some 43 million Americans carry student loans worth $1.6 trillion, according to federal figures. President Joe Biden promised to cancel $10,000 in federal student debt per person while campaigning but has not yet done so. He said in April that he is continuing to study what action to take on student loans.

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