Sallie Mae and Thurgood Marshall College Fund Launch $3 Million Scholarship Program to Support Disadvantaged Communities

Rhea-AI Summary

The Sallie Mae Fund has launched the Bridging the Dream Scholarship Program in partnership with the Thurgood Marshall College Fund, committing $1 million annually for three years. This program targets minority students and those from marginalized backgrounds, aiming to assist nearly 900 recipients in accessing and completing college. The initiative includes three scholarship categories: $10,000 for high school seniors, up to $2,500 for at-risk college students, and $10,000 for graduate students. This is part of Sallie Mae's $4.5 million investment in educational equity.

Positive

• Commitment of $1 million per year for three years, totaling $3 million for scholarships.
• Targeting nearly 900 students, promoting increased access to higher education for minorities and marginalized communities.
• Three distinct scholarship programs facilitate support for high school seniors, at-risk college students, and graduate students.

Negative

• None.

The Sallie Mae Fund, the charitable arm of Sallie Mae®, has partnered with the Thurgood Marshall College Fund to launch a new scholarship program to meet the needs of minority students and those from marginalized communities, including LGBTQ+, low-income, and first-generation college students. The Bridging the Dream Scholarship Program will provide $1 million a year over the next three years to help students not only access but also complete college, and help pay for graduate school. Nearly 900 students will receive scholarships through the Bridging the Dream Scholarship Program.

Opening the doors to higher education for more students remains a priority, but according to the National Center for Education Statistics, access is uneven. Roughly 78% of high school students from the highest economic class enrolled in college, compared to 28% of their peers in the lowest quintile. Additionally, minority students finish their degree programs at significantly lower rates than white students.

“Higher education transforms lives, and we’re committed to removing the financial barriers that so often prevent students from persisting to degree completion,” said Dr. Harry L. Williams, President and CEO of the Thurgood Marshall College Fund, which represents the 47 publicly-funded Historically Black Colleges and Universities and Predominantly Black Institutions. “A college degree positions students for greater career success and spurs the kind of economic mobility that can change the life trajectory for a student. That’s why we are thrilled to partner with Sallie Mae on this scholarship program.”

The Sallie Mae Fund’s Bridging the Dream Scholarship Program offers three specific scholarships:

- The Bridging the Dream Scholarship for High School Seniors: The Sallie Mae Fund will award (25) $10,000 scholarships to high school seniors who plan to enroll in a two- or four-year degree, professional certificate, or vocational training program. Seniors who excel inside and outside of the classroom and demonstrate financial need can apply now through March 8 at salliemae.com/landing/bridging-the-dream.

- The Completing the Dream Scholarship: The Sallie Mae Fund will award (260) gap scholarships worth up to $2,500 to minority students and those from underserved communities who are on track to graduate, but are at-risk of not completing due to financial emergencies or unpaid school bills. Students can apply now through March 8, at salliemae.com/landing/completing-the-dream.

- The Bridging the Dream Scholarship for Graduate Students: Coming later this year, The Sallie Mae Fund will also offer (10) $10,000 scholarship to minority students and those from disadvantaged communities who are pursuing a graduate degree.

“While the benefits and value of a higher education have never been greater, the system too often favors those with advantage,” said Jonathan Witter, CEO, Sallie Mae. “Far too many first-generation, low-income, and minority students face obstacles in reaching and completing college, which has a generational impact. Without action, those inequities will persist. Our partnership with Thurgood Marshall College Fund will power students with the confidence and resources they need to achieve not only a degree, but the future they deserve.”

The Bridging the Dream Scholarship Program is part of Sallie Mae’s $4.5 million commitment made last year. In addition to the $3 million in scholarships, The Sallie Mae Fund will contribute $1.5 million over the next three years to support educational programs that advance social justice, diversity, inclusion, and equality.

For official scholarship rules, visit www.salliemae.com/about/scholarship-opportunities. No purchase necessary. Void where prohibited. Ends March 8.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Thurgood Marshall College Fund Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation’s largest organization exclusively representing the Black College Community. TMCF member-schools include the publicly- supported Historically Black Colleges and Universities and Predominantly Black Institutions, enrolling nearly 80% of all students attending black colleges and universities. Through scholarships, capacity building and research initiatives, innovative programs, and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also the source of top employers seeking top talent for competitive internships and good jobs. TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF, visit: www.tmcf.org.

Category: Community and Philanthropy

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FAQ

What is the Bridging the Dream Scholarship Program by SLM?

The Bridging the Dream Scholarship Program is a $1 million annual initiative by SLM to support nearly 900 minority and marginalized students in accessing and completing college over three years.

How much total funding is allocated for the Bridging the Dream Scholarship Program?

SLM has committed $3 million in scholarship funding over three years through the Bridging the Dream Scholarship Program.

Who can apply for the Bridging the Dream scholarships?

High school seniors, at-risk college students, and graduate students from minority or marginalized backgrounds can apply for various scholarships offered by the Bridging the Dream Program.

How many scholarships will be awarded under the Bridging the Dream initiative?

The program aims to award scholarships to nearly 900 students, including 25 high school scholarships and 260 gap scholarships for college students.

What are the application deadlines for the Bridging the Dream Scholarships?

Applications for the Bridging the Dream Scholarships are open until March 8.