$100,000 Wells Fargo grant supports 40 scholarships for Hispanic students
LOS ANGELES, Sept. 18, 2012 /PRNewswire-USNewswire/ -- Today at the United States Hispanic Chamber of Commerce (USHCC) 33rd Annual Convention, the USHCC, Hispanic Scholarship Fund (HSF) and Wells Fargo announced a first -time scholarship program reinforcing a commitment to higher education and entrepreneurship. Wells Fargo's $100,000 donation to HSF will support college-bound students who are dependents of USHCC members or past participants in BizFest, an intensive entrepreneurial training program for Hispanic high school students. The program will open for applicants on September 19, 2012, and close on December 15, 2012.
"Education is the first step in establishing a path to future empowerment - today's college students are tomorrow's community leaders, corporate executives and small business owners," said Javier Palomarez, president and CEO, USHCC. "The State of Small Business Poll results released by the USHCC today highlight 72 percent of Hispanic business owners want to grow a business and create a legacy. The surest path to achieving this is ensuring our children go to college."
In today's competitive marketplace, the value of higher education is more important than ever. This scholarship program will help close the gap for Hispanic students by providing access to valuable resources for families. According to the August 2012 Pew Hispanic Center report, for the first time, the number of 18- to 24-year-old Hispanics enrolled in college exceeded 2 million and reached a record 16.5 percent share of all college enrollments.
"The relationship between Wells Fargo, the USHCC and HSF exemplifies how corporations can be a catalyst for growth while supporting what matters most to our community," said HSF President and CEO Frank Alvarez. "We are grateful for the opportunity to work with organizations like Wells Fargo and the USHCC that are dedicated to enriching the lives of Hispanic students."
"Wells Fargo is honored to collaborate with community organizations who share the value of higher education and our commitment to investing in the communities we serve, "said Tim Hanlon, head of Philanthropy for Wells Fargo. "We understand that today's students are tomorrow's entrepreneurs and we're proud to make a contribution to assist Latino students in their educational journey and help make their college dreams a reality."
About the United States Hispanic Chamber of Commerce
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that combined generate in excess of $465 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.
About the Hispanic Scholarship Fund
Founded in 1975, the Hispanic Scholarship Fund believes that the country prospers when all Americans have access to the opportunities a college education can afford. As the nation's leading Hispanic higher education fund, HSF works to address the barriers that keep many Latinos from earning a college degree. To date, HSF has awarded over $360 million in scholarships and has supported a broad range of outreach and education programs to help students and their families navigate collegiate life, from gaining admission and securing financial aid to finding employment after graduation. HSF has created Generation 1st Degree, a program that envisions a future where every Latino household will have at least one college graduate, creating an enduring impact on the college outlook of Latino families nationwide, and strengthening the American economy for generations to come. For more information about the Hispanic Scholarship Fund please visit: www.HSF.net.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
SOURCE United States Hispanic Chamber of Commerce