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.
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.
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.
The United Negro College Fund (UNCF) is putting the icon status of Michael Jackson and Ray Charles towards a great cause with the establishment of two new scholarship programs.
A press release reveals the Michael Jackson scholarship will provide financial assistance to communication arts and social science students attending a UNCF college/university during the upcoming academic year.
To qualify for the scholarship, high school seniors must plan on enrolling at a UNCF member school in the fall. Proof of acceptance at the UNCF college/university must be submitted. Depending on the financial need of the student as verified by the attending University or College, the scholarship will provide an award totaling up $5,000.
In addition to the Michael Jackson scholarship, the release detailed the intent of the Ray Charles Endowed Scholarship, which is set up to help African-American students with high academic promise that have significant financial need.
Endowment scholarships, which are renewable for up to one year, will be awarded to students who meet the recommended eligibility criteria. Criteria includes students being an African-American junior enrolled full-time at a UNCF member HBCU and having a minimum cumulative grade point average of 3.0 on a 4.0 scale. In addition, students must have a demonstrated unmet financial need that is verified by their college or university.
For more details on the Michael Jackson UNCF Scholarship, click here. More information on the Ray Charles Endowment Scholarship can be found here.
Comedian Kevin Hart has teamed up with the United Negro College Fund to award four Philadelphia high school seniors $50,000 scholarships for their stellar academic performance.
Hart selected the students himself as a way to reward them for their high GPA’s and to alleviate some of the financial stress that a college education can cause.
“This is me stepping up to the plate and saying what you’re doing is dope,” Philly.com reports Hart saying. “You’re dope. You’ve got the opportunity to be the dopest of all dopetivity.”
The Philadelphia native posted a message on his Instagram Saturday congratulating the young scholars saying, “I love my city and I will continue to put on for my city…Congrats to the 4 seniors that I chose. Now go be great!!!!”
This isn’t the first time Hart has used his celebrity wealth and platform to give back to the next generation of young leaders. Last year, the funnyman donated $50,000 to Texas Southern University’s band after hearing that the Tom Joyner Foundation was raising money to help the band see TSU alumnus Michael Strahan inducted into the Football Hall of Fame.
The four winners of Hart’s scholarship will also be flown to Atlanta for the UNCF’s “An Evening of Stars” event hosted by Black-ish star Anthony Anderson. The show will air on BET April 26.
The 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.”
According to a press release, a $500,000 grant from Wal-Mart will go to the United Negro College Fund to help sixteen HBCUs gain financial stability to ensure their continued mission of providing black students with higher education. Grants of $1 million and $250,000 to the National Urban League and the NAACP respectively will help individuals secure and build successful careers through training and placement assistance and help businesses create more job opportunities. Wal-Mart is providing $1.75 million in grants through its foundation to three of the nation’s biggest civil rights organizations: the NAACP, National Urban League and United Negro College Fund.
“With today’s economic climate there is a growing need to empower individuals in communities nationwide with access to opportunities that will help them live better. Part of this work will come from helping businesses understand and unlock the powerful results that a more diverse workforce has to offer,” said Wal-Mart Senior Director of Corporate Affairs Tony Waller in the release. “By helping one individual at a time build a successful career, we are growing a more competitive work environment. A competitive environment ignites innovation, which helps build stronger communities and, ultimately, a stronger America.”
“Since 2006 we have been able to increasingly grow our workforce training program through ongoing support from the Walmart Foundation and subsequently have exceeded expectations of the number of individuals we’ve been able to serve,” Marc H. Morial, president and CEO of the NUL, said in the press release. “This new grant will help us further strengthen our workforce development programs and continue helping African Americans and other communities of color across the United States secure economic independence and empowerment.”
NBA legend and business mogul Earvin “Magic” Johnson, multi-Grammy Award-winning musician, actor and philanthropist Common, and Black Entertainment Television (BET) chairman and CEO Debra Lee join forces with Coca-Cola this month in a movement to uplift and pay it forward to the next generation.
Kicking off the second year of its signature program, “Coca-Cola Pay it Forward,” the world’s most recognized brand enlists the help of some of today’s leading African-American history makers to offer exciting apprenticeship experiences to aspiring youth. Magic Johnson, Common and Debra Lee will serve as mentors, giving four lucky young people the opportunity to shadow them and their teams for a week during the summer. The four apprenticeship experiences will focus on: business (Johnson); music and community (Common); and media/entertainment (Lee). Expanding this year’s program offering, the Company has partnered with UNCF (United Negro College Fund), the country’s largest minority education organization, for a text-to-donate program.
“I have and always will remain committed to uplifting the urban community in my business and nonprofit endeavors, and that makes the Coca-Cola ‘Pay It Forward’ program a perfect fit,” said Johnson. “There is no better way to empower a community than to arm its youth with the necessary skills to succeed.”
ATLANTA – A popular and influential collection of artwork featuring African leaders and rulers has returned for public viewing at Morehouse College in Atlanta. Valued at more than $1 million, “The Great Kings and Queens of Africa” collection of paintings was commissioned by Anheuser-Busch in 1975. Today, the company announced it has donated the entire collection to UNCF (United Negro College Fund), the country’s largest minority education organization, which will distribute pieces from the collection to six UNCF member colleges and universities: Morehouse College, Clark Atlanta University, Fisk University, Xavier University, Dillard University and Benedict College.