Obamas Team Up With Airbnb Founder To Launch $100 Million Scholarship Fund

Former US president Barack Obama announced today he has teamed up with Airbnb's founder to launch a $100 million scholarship aimed at helping university students who pursue careers in public service.

Obama and former first lady Michelle Obama said they received a $100 million contribution from the home rental platform's chief executive Brian Chesky to start the Obama Foundation's Voyager Scholarship, a two-year program eligible for juniors and seniors in universities.

The scholarship, aimed at easing participants' college debt burden and promoting travel experiences early in their careers, will support 100 students in its first year but will expand as the program ramps up, the Obama Foundation said.

"If we want this next generation of leaders to be able to do what they need to do, they have to meet each other. They have to know each other. They have to understand each other's communities," Barack Obama, US' first Black President, said in a video with Mr Chesky announcing the program.

"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."

Students will receive up to $50,000 in financial aid plus a stipend to pursue a summer work and travel experience. After graduation, Airbnb would provide them with $20,000 in travel credits over a 10-year period.

The Obama Foundation, founded in 2014 in Chicago, has two previous scholarship programs in coordination with the University of Chicago and Columbia University.

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