Amid National Access and Affordability Crisis, PepsiCo Expands Community College Program Nationwide to Support 4,000 Black and Hispanic Students
PURCHASE, NY, November 10, 2021 / PRNewswire / – Today, PepsiCo (NASDAQ: PEP) and the PepsiCo Foundation announced the nationwide extension of the company’s Community College program to students in nine additional cities. Amid a crisis in higher education that has seen enrollment and graduation rates plummet among black and Hispanic students, PepsiCo’s program fosters access and advancement through a holistic approach which not only offers financial support to help students at the point of entry to university, but also addresses the additional barriers – retention, completion and preparation for the job market – that have a disproportionate impact on educational and career paths of these students.
This program aims to close the education and achievement gap for historically excluded communities by providing additional resources such as professional mentoring, financial assistance for eligible living expenses such as child care and transportation, and financial literacy courses.
Building on its racial equality journey, PepsiCo is expanding this program to offer 1,400 scholarship opportunities through 2022 to eligible Black and Hispanic students attending the following schools:
- Los Angeles community University district (Los Angeles, CA)
- Miami Dade University (Miami, Florida)
- Wayne County Community University district (Detroit, Michigan)
- Atlanta Metropolitan State College (Atlanta, Georgia)
- Ivy Tech Community College (Indianapolis, IN)
- Maricopa County Community University district (Phoenix, Arizona)
- Valence College (Orlando, Florida)
- Alamo Colleges District (San Antonio, Texas)
- Prince George community University (Largo, MD)
âBlack and Hispanic students face an unprecedented educational crisis as enrollment rates continue to decline and drop-out rates rise, often due to financial need other than tuition. Students need more than scholarships – they need support to stay in school, complete their studies and enter the job market â, said CD Glin, Global Head of Philanthropy, PepsiCo and Vice President of the PepsiCo Foundation. “We launched this program to help students overcome some of the most critical barriers to their education and economic success, and we are proud to announce today that we are welcoming more students and supporting them on their journey. school. “
Historically, community colleges have been an engine of upward mobility, serving a demographically and economically diverse student population. But for students who are already struggling to cover their living expenses, COVID-19 and the ensuing economic crisis has proved an insurmountable hurdle, forcing thousands to either give up enrollment or drop out. In response, PepsiCo and the PepsiCo Foundation launched the Community College Program in March 2021 to support 4,000 black and Hispanic students over five years. Started with the colleges of the city of Chicago, Westchester Community College, Houston Community College and Dallas College, the program addresses the underlying barriers that make enrollment, persistence and graduation difficult for minority students.
The PepsiCo Foundation Community College Program has two types of scholarships – Uprising Scholarships for students seeking two-year associate’s degrees or professional certificates and SMILE (Success Matters in Life & Education) scholarships for community college graduates transitioning to four-year colleges.
the Improvement scholarship also provides assistance to students pursuing programs that are often not covered by federal student aid. Students receive financial assistance and services designed to support their continued enrollment, including dedicated success coaches, access to emergency grants, and financial literacy programs to give them the resources and knowledge to take sound financial decisions. The program is offered at 13 partner community colleges.
The PepsiCo Foundation also announced the first 25 recipients of the SMILE scholarship program, each of which received a $ 25,000 scholarship, a professional mentor from PepsiCo to provide guidance and support throughout their educational journey, and access to financial wellness courses. The 25 students are currently enrolled in some of the best academic institutions in the country, including Columbia university, Fordham University, the University of Illinois at Urbana-Champaign, and the University of Texas at Austin.
“It is a great honor to partner with PepsiCo and to be included in this revolutionary program alongside other leading institutions,” said Madeline Pumariega, President of Miami Dade University. “Now more than ever, Miami Dade The College remains committed to advancing the pass and completion rates of Hispanic and Black students, as well as creating and expanding career paths for jobs in demand in the new global economy. ”
PepsiCo’s efforts to date include a $ 50 million five-year commitment to support black-owned businesses primarily through Pepsi Dig In, a multi-faceted platform that encourages consumers to support black-owned restaurants and provides resources to restaurateurs through the Black Restaurants Deliver program, a free service that helps owners increase their online ordering and delivery capabilities; The PepsiCo Foundation’s black restaurant accelerator, a 10 million dollars program with the National Urban League to provide support to 500 black-owned restaurants in the United States over the next five years; and Doritos SOLID BLACK â¢, a $ 5 million multiplatform initiative designed to strengthen the voice of black innovators and creators.
Likewise, PepsiCo recently launched Juntos Crecemos, a $ 50 million platform to strengthen Hispanic businesses over the next five years, a key part of that platform being the PepsiCo Foundation’s IMPACTO Hispanic Business Accelerator, which provides 10 million dollars in financing to 500 owners of small Hispanic food and beverage businesses in 13 US cities. PepsiCo’s global commitment to advance food security through collaboration in the communities where we live and work, Food For Good, also provides jobs and access to nutritious food for black and Hispanic communities.
More information on PepsiCo’s race equality journey is available online at pepsico.com/about/diversity-and-engagement.
PepsiCo products are loved by consumers more than a billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $ 70 billion of net sales in 2020, thanks to a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $ 1 billion each in estimated annual retail sales. Leading PepsiCo is our vision to be the world leader in convenient foods and beverages by winning with purpose. âWinning with Reasonâ reflects our ambition to win sustainably in the market and to integrate the goal into all aspects of our business strategy and our brands. For more information, visit www.pepsico.com.
About the PepsiCo Foundation
Established in 1962, the PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with the mission of supporting thriving communities. Working with nonprofits and experts around the world, we strive to help communities access food security, clean water, and economic opportunity. We strive to make a tangible impact in the places where we live and work, collaborating with industry peers, local and international organizations and our employees to bring about large-scale change on the issues that matter to us and are of global importance. Learn more at www.pepsico.com/sustainability/philanthropy.
SOURCE PepsiCo Foundation