Georgetown University announced last week that it will launch a $400,000 slavery reparations fund that will benefit descendants of slaves once owned by the university.

According to a report by the student newspaper of Georgetown University, the university has launched a $400,000 fund that will annually contribute to communities in the south were many descendants of the 272 slaves that the university sold in 1838 had relocated to.

Breitbart News reported in April that a majority of Georgetown students voted in favor of a referendum that would have established a student-funded reparations fund. Under the referendum, students would pay $27.20 per semester towards the reparations fund.

Georgetown University President John J. DeGioia said last week that the fund, which will be funded exclusively by the university, will match or exceed the amount of reparations dollars that the students intended to raise with the proposal that was attached to the April referendum.

“The University will ensure that the initiative has resources commensurate with, or exceeding, the amount that would have been raised annually through the student fee proposed in the Referendum, with opportunities for every member of our community to contribute,” DeGioia wrote in a letter.

“This work will be grounded in our academic mission of education, research, and service; will provide opportunities for student leadership; and will be guided by extensive consultation and engagement with Descendants,” DeGioia added.

Although the students behind the push for a reparations fund seemingly achieved their desired outcome, a campus activist group called GU272, said that they are disappointed with the university’s decision.

“The decision outlined by President DeGioia, as detailed in the statement released, was made without student or descendant input and directly negates the wishes of the 2541 students who voted in favor of the referendum,” the group wrote on their Facebook page. “The suggested action, including the proposed advisory group, contains no clear criteria, accountability measures, or transparency with regards to construction or implementation.”

Stay tuned to Breitbart News for more updates on this story.