WASHINGTON, DC, June 15, 2021 (GLOBE NEWSWIRE) -- The Thurgood Marshall College Fund (TMCF) has announced a multiyear partnership with the Citi Foundation aimed at the establishment of a multifaceted professional and personal development immersion program providing meaningful economic development support for students attending TMCF member-schools, which are America’s publicly supported Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs).
According to the National Center for Education Statistics, the 6-year graduation rate for first-time, full-time undergraduate Black college students is 40%. Additionally, Black students have nearly $25,000 more student loan debt than their White counterparts according to the White House Initiative on Educational Excellence for African Americans. To address this issue, TMCF will partner with 30 public HBCUs and campus coordinators, career offices, and faculty and staff to launch the TMCF HBCU Incubator Program which will select 2,000 students (or 1,000 students per year) to receive career readiness training online, access to coaching and mentoring, academic support, and financial coaching.
“This exciting partnership with the Citi Foundation is another example of the diverse set of global partners that value and want to make long-term investments in the development and success of HBCU students through TMCF,” TMCF President & CEO Dr. Harry L. Williams said. “We applaud the Citi Foundation for their commitment to the Black College Community.”
In addition to enhancing economic, personal, and professional education, Citi and Citi Foundation leaders will also engage directly with students to share information about corporate careers, individual trajectories, and the need to curate one’s education and one’s career. All of this is with the goal of providing HBCU students with the support they need to choose and pursue their career paths in an effort to address the racial wealth gap.
“Equipping young Black students with the knowledge and resources to pursue their educational and career interests during their formative college years can make all the difference in their success,” said Brandee McHale, Head of Citi Community Investing and Development and President of the Citi Foundation. “The Citi Foundation is proud to be partnering with the Thurgood Marshall College Fund to support the next generation of leaders from HBCUs, institutions that play a critical role in ensuring young people of color are not left behind, and continue doing our part to help close the racial wealth gap.”
About the 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.
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach deploys the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
CONTACT: Chevonne Mansfield Thurgood Marshall College Fund firstname.lastname@example.org