Bank of America Announces $2.65 Million Jobs Initiative for Black and Hispanic-Latino Students in Texas
Multiple colleges and universities in Texas, including Dallas College-El Centro Campus and Prairie View A&M University, and Bank of America today announced a new multimillion dollar jobs initiative to help students of color complete the education and training necessary to be successful in today’s workforce as part of the bank’s commitment to advancing racial equality and economic opportunity. This initiative builds on Bank of America’s ongoing work in Texas to address the underlying issues facing individuals and communities of color who have been disproportionately impacted by the current health crisis.
“Advancing economic mobility through education and workforce training is a priority for Bank of America in Texas and across the country,” said Jennifer Chandler, Dallas market president for Bank of America. “Creating meaningful career opportunities that include a pathway to reducing student debt, obtaining health care and retirement benefits will ultimately help Black and Hispanic-Latino students build net worth, help their families, and have ripple effects across our communities and greater economy.”
Dallas College-El Centro Campus and Prairie View A&M University are each receiving $1 million as part of the bank’s $25 million, nationwide initiative with partnerships at 21 higher education institutions, including community colleges, historically Black colleges and universities (HBCUs) and Hispanic-serving institutions (HSIs). Bank of America is also partnering with and providing funding to the Aspen Institute to convene the participating higher education institutions for technical and programmatic assistance and to share best practices.
“The current times have been very challenging and disruptive for our students, often causing them to question whether they can continue their studies,” said Dr. Ruth Simmons, president, Prairie View A&M University. “Efforts by Bank of America to encourage their persistence and ambition are very much needed and will create a pathway for many to remain enrolled and complete their education. We are grateful for the timeliness and generosity of these actions.”
Additionally, the bank has expanded its support of higher education institutions across the state by providing incremental funding to:
- Alamo Colleges – St. Philip’s Campus
- Huston-Tillotson University
- St. Edward’s University
- Texas Christian University
- Texas Southern University
- University of North Texas
- University of Texas at Austin
- University of Texas at Arlington
This is in addition to the $15 million in philanthropic grants Bank of America has made to support education and workforce development in Texas over the past five years.
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