Dominion Energy Educational Equity Scholarship Program Awards $500,000 to 60 Students

Rhea-AI Summary

Dominion Energy has launched the Educational Equity Scholarship program, aiming to support African American and underrepresented minority students. The inaugural class consists of 60 students from eight states, who will collectively receive over $500,000 in scholarships. As part of a broader $10 million initiative over six years, students in two-year schools will receive $5,000 each, while those in four-year schools will receive $10,000. The program is managed by Scholarship America. Additionally, Dominion pledged $25 million to historically black colleges across four states.

Positive

• Investment of over $10 million in scholarships over six years supports underrepresented minority students.
• Scholarship recipients can renew their awards, promoting educational continuity.
• Pledge of $25 million to historically black colleges supports educational infrastructure.
• Company showcases corporate social responsibility, enhancing brand image.

Negative

• None.

RICHMOND, Va., June 17, 2021 /PRNewswire/ -- Sixty students from diverse backgrounds make up the first class of Dominion Energy Educational Equity Scholars and will receive over $500,0000 to help pay for educational expenses as part of Dominion Energy's larger commitment to African American and other underrepresented minority students. These scholarships are the first in a six-year, $10 million initiative to provide assistance with higher education expenses.

"A college education is one key path to a successful career. This will help reduce the financial hurdle," said Robert M. Blue, Dominion Energy's chair, president and chief executive officer. "All students should have access to a quality education and the many doors a college degree opens."

The inaugural class is comprised of students hailing from eight states. Seventeen students enrolled in two-year schools will receive $5,000 each. Forty-three students enrolled in four-year schools will receive $10,000 each. Scholarship recipients will be able to renew scholarships as they progress in school, provided they meet certain criteria, such as GPA requirements and residence in an eligible state. The program is administered by Scholarship America, a nonprofit that specializes in management of scholarship and tuition assistance programs.

Another $9.5 million in Dominion Energy Educational Equity Scholarships will be awarded over the next five years. Dominion Energy also committed $25 million to 11 historically black colleges and universities in Virginia, Ohio, North Carolina and South Carolina. The six-year HBCU Promise^SM program will support endowments, capital projects, operating expenses and educational programs in clean energy.

NOTE: Photos and biographies of this year's awardees are available at https://news.dominionenergy.com/scholars

About Dominion Energy
More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

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SOURCE Dominion Energy

FAQ

What is the Dominion Energy Educational Equity Scholarship program?

The program provides scholarships to underrepresented minority students, totaling over $10 million over six years.

How much money did Dominion Energy award in the first class of scholarships?

Dominion Energy awarded over $500,000 to 60 students in the inaugural class.

What are the scholarship amounts for students in two-year and four-year schools?

Students in two-year schools receive $5,000 each, while those in four-year schools receive $10,000 each.

How will the Educational Equity Scholarship be managed?

The program is administered by Scholarship America, a nonprofit organization that specializes in scholarship management.

What other commitments has Dominion Energy made regarding education?

Dominion Energy committed $25 million to support historically black colleges and universities in Virginia, Ohio, North Carolina, and South Carolina.