SAN FRANCISCO - September 15, 2011
Today, to mark the start of Hispanic Heritage Month, Wells Fargo and Hispanic Scholarship Fund (HSF) are announcing an expansion of their long-term alliance. This year, Wells Fargo and HSF have provided scholarships to 172 students and are preparing to host a series of student financing education summits for students and their parents. The kick off - the HSF Student Leadership Conference - will be held today in San Francisco at Wells Fargo’s headquarters building at 420 Montgomery Street. Other HSF events will be held throughout the next several months in the following cities: Miami, New York, Newark, N.J., Los Angeles, Reno and Las Vegas.
“Wells Fargo recognizes the deep-rooted cultural, social and economic significance of a college education within the Hispanic community,” said Tim Hanlon, executive vice president of the Wells Fargo Philanthropy Group. “Our goal is to help make the road to a college degree easier for Hispanic families.”
During the two-day HSF Student Leadership Conference, Wells Fargo and the Hispanic Scholarship Fund will focus on empowering Hispanic student participants with the skills they need to serve as ambassadors to their fellow students when they return to their college campuses. Students from each of the 37 HSF national scholar chapters will engage in team building activities and sessions focused on leadership, communication skill development, debt management, how to excel in college and how to start a successful career.
In October, Wells Fargo will sponsor the 2011 HSF Education Summit and Alumni Hall of Fame Gala in New York City. This year’s education summit will feature a panel of foundation, corporate, federal and state education leaders who will discuss the issues facing Hispanic families in college attainment.
“Achieving a college education holds special importance for Hispanic parents and students,” said Frank D. Alvarez, president and CEO, Hispanic Scholarship Fund. “We’re grateful to our sponsor, Wells Fargo, for sharing our commitment to the continued success of the Hispanic community.”
According to a 2010 poll conducted by The Nielsen Company and Stanford University, some 87 percent of Hispanics believe that a college education is extremely important, while 94 percent report that they expect their children to go to college. However, this enthusiasm rarely comes to fruition. The poll shows that only 13 percent of Hispanics in the U.S. have a bachelor's degree or higher, the lowest rate for any ethnic group. (See Figure One)
Through the end of the year and early 2012, HSF and Wells Fargo will host Steps for Success programs in Newark, N.J., Los Angeles, Reno, Nev., Las Vegas and Miami. Steps for Success is a college preparation workshop designed for middle and high school students and their parents that includes information on how to prepare and pay for higher education.
Wells Fargo and the Wells Fargo Foundation have supported HSF for more than 10 years, and since 2009 have provided $2.3 million in total support for the organization. That same year, Wells Fargo pledged a $500,000 annual commitment to HSF in support of scholarship funding through 2012 – a total of $1.5 million in scholarships for students. This year, Wells Fargo expanded its role and financial commitment by $300,000 resulting in the new initiatives being executed beginning today through early next year.
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. HSF has awarded over $330 million in scholarships over the past 36 years 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 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 wachovia.com), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.