NORTHBROOK, Ill., Aug. 1, 2012 /PRNewswire/ -- Allstate and the Tom Joyner Foundation are asking alumni, students and supporters of Historically Black Colleges and Universities (HBCUs) across the country to do their part to raise scholarship funds as part of the fourth annual Allstate Quotes for Education program.
For every person who receives an insurance quote from an Allstate agent and mentions Quotes for Education between August 1 and Dec. 31, 2012, Allstate will donate $10, up to a total donation of $150,000. The funds will be donated to the Tom Joyner Foundation and earmarked for general scholarship funds to assist students attending HBCUs.
For the first time ever, participants in this program will also have a chance to vote for the HBCU of their choice to receive a separate $50,000 donation for scholarships specifically at that school.
"Each year, hundreds of students will be forced to drop out of college due to financial hardship," said Cheryl Harris, senior vice president at Allstate. "The Quotes for Education program brings to life a vision shared by Allstate and the Tom Joyner Foundation, which is to support programs for HBCUs that create educational opportunities for the next generation."
According to a 2012 study by The Journal of Blacks in Higher Education, only four out of 37 HBCUs surveyed has a black student graduation rate of more than fifty percent within six years. The study also noted a declining trend in graduation rates since 2006, likely driven by recent economic conditions which have limited financial aid from public and private sources.
"This scholarship shows me that I'm worthy of the investment being made in my education, and it makes me grateful and hopeful for my future," said Desharee Williams, a student at Bethune-Cookman University and a past recipient of the Allstate and Tom Joyner Foundation scholarship. "This scholarship has allowed me to focus on class work and on pursuing extracurricular activities to build my professional portfolio."
A 2009 study by the non-profit research group Public Agenda found that most young adults who started but did not complete higher education cited the need to work more as a major reason that forced them to drop out of school.
This marks the second year that Allstate has partnered with the Tom Joyner Foundation for the Quotes for Education program. Additionally, for the past eight years, Allstate has title-sponsored the Allstate Tom Joyner Family Reunion. Both programs are part of Allstate's year-round commitment to create, support and sponsor programs that empower the African-American community.
"This is a big help to these students," said Tom Joyner, chairman and founder of the 14-year-old foundation bearing his name. "Given this tough economy these days, every single dollar we can provide to help a student finish their education will make a difference."
To participate in the Quotes for Education program, HBCU supporters should visit www.allstate.com/represent to find a nearby participating agent or receive a quote online, or call 855-REP-HBCU at any time to receive a quote from an Allstate representative. Supporters can also join and follow the conversation on Twitter via the hashtag #RepHBCU to encourage the participation of friends and family.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names. Widely known by its slogan "You're In Good Hands With Allstate®," Allstate offers insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives, as well as via www.allstate.com and 1-800 Allstate®. As part of Allstate's commitment to strengthen local communities, The Allstate Foundation, Allstate employees, agency owners and the corporation provided $28 million in 2011 to thousands of nonprofit organizations and important causes across the United States.
About The Tom Joyner Foundation
The Tom Joyner Foundation's primary mission is helping to keep students enrolled in Historically Black Colleges & Universities (HBCUs.) Since 1998, the foundation, chaired by nationally syndicated radio personality Tom Joyner, has raised more than $60 million to help keep students enrolled in black colleges, has assisted more than 14,000 students and worked with more than 100 HBCUs. Throughout the week, the Foundation announces scholarship winners on the nationally syndicated radio show hosted by its founder, Tom Joyner. Each week, separate financial awards are focused on students who are single parents and distinguished male students at each 'School of the Month'. The organization's largest annual fundraiser is its "Fantastic Voyage"™, which is a seven-day, six-night cruise that has raised millions of dollars to help keep students in school.
SOURCE Allstate Insurance Company