University of Puerto Rico gets $1M grant from Bank of America
The University of Puerto Rico recently received a $1 million grant from Bank of America, as part of its commitment “to help students of color successfully complete the education and training necessary to be successful in today’s workforce.”
The bank recently unveiled a $1 billion, four-year commitment to advance racial equality and economic opportunity offered details about its $25 million commitment to enhance up-skilling and reskilling for Black and Hispanic-Latino students.
Through initial partnerships with 21 higher education institutions including community colleges, Bank of America gave each one of the historically Black colleges and universities and Hispanic-serving institutions, including the University of Puerto Rico, $1 million to move ahead with helping students.
“Career opportunities are a critical pillar in addressing the racial wealth gap in our country,” said Bank of America ice Chairman Anne Finucane in a press release.
“A meaningful job opportunity goes beyond the paycheck — it is a pathway to reduce student debt, obtain health care and retirement benefits, and ultimately, build net worth,” she said.
“The collaborative training approach we are taking with this initiative will not only impact the lives of Black and Hispanic-Latino students but will enable them to make real and meaningful impact in their communities now and in the years ahead,” Finucane added.
The UPR is part of a list of partner institutions that includes: Arizona State University, Downtown Phoenix Campus; Atlanta Technical College; Baruch College, The City University of New York; Central Piedmont Community College; Dallas College, El Centro Campus; Delaware State University; Florida A&M University; Florida International University; Florida State College at Jacksonville; Harold Washington College, City Colleges of Chicago; Los Angeles Trade Technical College; and Miami Dade College, among others.
Each partner institution will develop or enhance existing programs to meet specific skill gaps in their communities to create higher-paying, family-sustaining jobs that are in demand.
Meanwhile, Bank of America will work alongside major employers in each selected market to ensure these programs target specific hiring needs and create a clearly defined career pathway to future employment, it said.