Press release
PepsiCo Launches $40 Million Community College Program to Support 4,000 Black and Hispanic Students
Will Provide Students in 20 Cities with Funding for Tuition and Living Expenses as well as Professional Mentoring, Training and Opportunities for Work
About this update from Pepsico, Inc.
[{"type":"text","content":"Will Provide Students in 20 Cities with Funding for Tuition and Living Expenses as well as Professional Mentoring, Training and Opportunities for Work Experience\n Program Is a Cornerstone Initiative of PepsiCo's More Than $570 Million Commitment to Black and Hispanic Communities\n\n\nPURCHASE, N.Y., March 30, 2021 /PRNewswire/ -- Recognizing the need for systemic change to address barriers that make it difficult for low-income students of color to pursue higher education, PepsiCo and its philanthropic arm, The PepsiCo Foundation, today announced a new $40 million scholarship and professional mentoring program to support Black and Hispanic aspiring and graduating community college students. Launching in Dallas, Westchester, Houston, and Chicago, PepsiCo plans to expand the program to 16 additional cities in the fall and aims to support 4,000 students over five years.\nHigher education is a key pathway to better pay, greater job opportunities and long-term economic security. This $40 million initiative is designed to help Black and Hispanic students pursue and succeed in higher education and gain the training and skills they need for current and future job markets. The comprehensive program provides students with financial support as well as mentoring and leadership training from PepsiCo employees. Students will also have the opportunity to apply for internships and jobs at PepsiCo. \n\"Education is a great equalizer that enables economic growth, upward mobility and helps build generational wealth that lifts up communities over the long-term,\" said PepsiCo Chairman and CEO Ramon Laguarta. \"With this program, we are creating a differentiated experience for students that goes beyond scholarships by providing critical training, support and other services that will put them on the path to success. Last year, PepsiCo committed to using our resources to combat deep-rooted economic disparities that have long impacted Black and Hispanic communities. We're proud to announce this community college program today as a key part of that effort.\"\nThe program is comprised of two types of scholarships – Uplift Scholarships for students seeking two-year associate degrees or trade certificates and S.M.I.L.E (Success Matters in Life & Education) scholarships for community college graduates transitioning to four-year colleges. Because students of...