AT HEART OF NATIONAL ACCESS AND AFFORDABILITY CRISIS, PEPSICO EXPANDS COMMUNITY COLLEGE PROGRAM NATIONWIDE TO SUPPORT 4,000 BLACK AND HISPANIC STUDENTS

PepsiCo and the PepsiCo Foundation are doubling down on their comprehensive program that offers tuition, mentorship, financial literacy classes and living expenses

Builds on PepsiCo’s Critical Race Equality Journey to Address Systemic Inequality in the United States

BUY, NY (November 10, 2021) — Today, PepsiCo and the PepsiCo Foundation announced the nationwide expansion of the company’s Community College program to students in nine additional cities. Amid a higher education crisis that has seen rates plummet registration and Graduation among Black and Hispanic students, PepsiCo’s program promotes access and advancement through a holistic approach that not only provides financial support to help students at the college entry point, but tackles additional barriers—retention, completion, and workforce readiness—that disproportionately impact these students’ educational and career paths.

This program aims to close the education and achievement gap for historically excluded communities by providing additional resources such as career mentoring, financial assistance for eligible living expenses such as childcare and transportation, and financial literacy classes.

Building on its journey to racial equality, 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 College District (Los Angeles, CA)
  • Miami Dade College (Miami, Florida)
  • Wayne County Community College District (Detroit, MI)
  • Atlanta Metropolitan State College (Atlanta, Georgia)
  • Ivy Tech Community College (Indianapolis, IN)
  • Maricopa County Community College District (Phoenix, AZ)
  • Valencia College (Orlando, Florida)
  • Alamo College District (San Antonio, Texas)
  • Prince George Community College (Largo, MD)

“Black and Hispanic students face an unprecedented educational crisis as enrollment rates continue to decline and dropout rates rise, often due to financial need outside of tuition. Students need more than scholarships – they need help to stay in school, complete their education and enter the job market,” said CD Glin, Global Head of Philanthropy, PepsiCo and Vice Chairman, 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 helping them their school career.

Historically, community colleges have been an engine of upward mobility, serving a demographically and economically diverse student population. But for students already struggling to cover living expenses, COVID-19 and the ensuing economic crisis have proven an insurmountable obstacle, forcing thousands to forgo 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. Launched with City Colleges of Chicago, Westchester Community College, Houston Community College, and Dallas College, the program addresses the underlying barriers that make it difficult to enroll, persist, and graduate for minority students.

The PepsiCo Foundation Community College Program includes two types of scholarships – Uprising Scholarships for students seeking a two-year associate degree or business certificate 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 aid 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 the 13 partner community colleges.

The PepsiCo Foundation also announced the first 25 recipients of the SMILE scholarship program, who each received a $25,000 scholarship, a professional mentor from PepsiCo to provide guidance and support throughout their educational journey, and access to lifelong learning courses. – be financial. The 25 students are currently enrolled at some of the nation’s top academic institutions, including Columbia University, Fordham University, University of Illinois at Urbana-Champaign, and University of Texas at Austin.

“It is a great honor to partner with PepsiCo and be included in this groundbreaking program alongside other leading institutions,” said Madeline Pumariega, President of Miami Dade College. “Now more than ever, Miami Dade College remains committed to advancing pass and completion rates for Hispanic and Black students, as well as creating and expanding career paths for in-demand jobs in the new economy. world.”

PepsiCo’s efforts to date include a five-year, $50 million commitment to support Black-owned businesses, primarily through Pepsi Dig In, a multi-faceted platform that encourages consumers to support Black-owned restaurants. of Blacks and provides resources to restaurant owners through the Black Restaurants Deliver program, a free service that helps owners increase online ordering and delivery capabilities The PepsiCo Foundation’s Black Restaurant Accelerator, a $10 million program with National Urban League to provide support for 500 black-owned restaurants in the United States over the next five years; and Doritos SOLID BLACK™, a $5 million cross-platform initiative designed to strengthen the voice of Black innovators and creators.

Similarly, PepsiCo recently launched Juntos Crecemos, a $50 million platform to empower Hispanic-owned businesses over the next five years, with one of the key components of this platform being IMPACTO Hispanic Business. Accelerator from the PepsiCo Foundation, which provides $10 million in funding to 500 Hispanic businesses. small food and beverage business owners in 13 US cities. PepsiCo’s global commitment to advancing 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 about PepsiCo’s race equality journey is available online at pepsico.com/about/diversity-and-engagement.

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About PepsiCo
PepsiCo products are enjoyed 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 in net revenue in 2020, driven by 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 each generate more than $1 billion in estimated annual retail sales. Leading PepsiCo is our vision to be the global leader in convenient food and beverage by winning with purpose. “Winning with Purpose” reflects our ambition to sustainably win in the marketplace and embed purpose into all aspects of our business strategy and 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 essentials of a sustainable food system with a mission to support thriving communities. By working with nonprofit organizations and experts around the world, we strive to help communities access food security, clean water and economic opportunity. We strive to have 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 which are of global importance. Learn more about www.pepsico.com/sustainability/philanthropy.

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