Tag: Michael L. Lomax

UNCF Report Shows HBCUs Positive, Multi-Billion Dollar Impact on U.S. Economy

(via images.uncf.org)

via jbhe.com

The United Negro College Fund (UNCF) released a new report on the economic impact historically Black colleges and universities have on the nation’s economy. The study prepared by the University of Georgia’s Selig Center for Economic Growth, found that the nation’s HBCUs contribute nearly $15 billion to the nation’s economy.

Among the other findings in the report are:

  • Every dollar spent by a HBCU and its students generates $1.44 in initial and subsequent spending for the institution’s local and regional economies.
  • HBCUs generate roughly 134,000 jobs for their local and regional economies.
  • HBCU graduates, over 50,000 in 2014, can expect work-life earnings of $130 billion — an additional $927,000 per graduate — 56 percent more than they could expect to earn without their HBCU degrees or certificates.

Michael L. Lomax, president and CEO of the UNCF, stated that “HBCUs not only provide a college education for 300,000 students every year, but they are a powerful economic engine: locally, through the jobs they create and the expenditures they make in the cities where they are located, and nationally, through the students they educate and prepare for an information-age workforce. The study demonstrates conclusively that HBCUs are not only relevant to the country’s economic health and vigor, they are necessary.”

The full report, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities, may be downloaded here.

Source: https://www.jbhe.com/2017/11/united-negro-college-fund-analysis-show-the-economic-impact-of-the-nations-hbcus/

New UNCF Grant Program Funded by Lilly Endowment Helps Black College Graduates Prepare for Careers

article via jbhe.com

The United Negro College Fund’s Career Pathways Initiative has announced that 24 historically Black or predominantly Black colleges and universities will receive five-year grants totaling $35.3 million to better prepare their students for careers after college. The grants are made possible through funds from the Lilly Endowment.

UNCF CEO Dr. Michael Lomax (photo via AABE)
UNCF CEO Michael L. Lomax (photo via AABE)

The 24 colleges and universities will receive funds for programs to strengthen career advising and mentoring, enhance curriculum focused on career readiness, and to support integrated co-curricular engagement activities. The HBCUs will used the funds to develop a range of academic programs, student internships, industry partnerships, specialty certification programs, and faculty development initiatives.

Michael L. Lomax, president and CEO of the UNCF, said that “these colleges and universities show promise in significantly addressing the urgent challenges facing African American college students and graduates. The Career Pathways Initiative will help ensure our graduates are prepared for and are hired into high-paying 21st-century jobs.”

A list of the colleges and universities receiving grants is available here.

To read full article, go to: Major New Grant Program Will Help Prepare Black College Graduates for Careers : The Journal of Blacks in Higher Education

UNCF Teams with Fund II Foundation to Offer New $48 Million Scholarship Program for African Americans in STEM Fields

Now the Fund II Foundation has teamed up with the United Negro College Fund to establish a new scholarship program to help African American students seeking careers in STEM fields. Over the next five years, The Fund II Foundation UNCF STEM Scholars Program will identify 500 African American high school students who are determined to pursue careers in STEM fields. These students will receive scholarships, internships, mentoring, and other tools to help them reach their goals. The Fund II Foundation is contributing $48 million for the STEM Scholars Program. Continue reading “UNCF Teams with Fund II Foundation to Offer New $48 Million Scholarship Program for African Americans in STEM Fields”

Disney Pledges $1 Million to United Negro College Fund

Screen Shot 2015-03-06 at 12.19.10 PMThe Walt Disney Company recently announced a $1 million commitment to the United Negro College Fund (UNCF).

The UNCF, one of the leading minority scholarship organizations, will use the money to provide scholarships to outstanding African American students in underserved communities across the country, while expanding educational and career resources for them.  The UNCF traditionally serves low-income youth who are the first in their families to go to college, with more than 50 percent coming from families whose incomes are less than $30,000 per year.

The Walt Disney Company UNCF Corporate Scholars will be selected based on a competitive application process administered by UNCF. To be considered, applicants must be enrolled full-time at a four-year college or university, demonstrate financial need, have a minimum cumulative 2.5 GPA on a 4.0 scale, and have an interest in pursuing a career in the entertainment industry.

The application process opens March 16 and closes May 15. Preference will be given to students attending a Historically Black College or University (HBCU) to ensure 50% of each group are derived from these schools.

“UNCF works to ensure our future leaders have the opportunity to obtain the college degrees they need, and our nation needs them to have,” UNCF president and CEO Michael L. Lomax said. “The Walt Disney Company UNCF Corporate Scholars Program expands their academic training into practical experiences, to create a diverse pipeline of college educated professionals poised to assume fulfilling careers in the entertainment industry. The investment we are making in better futures for them now will pay dividends in years to come when they become our next generation of leaders.”

article by Joe Otterson via thewrap.com