St. Edward’s University Receives Grant from Bank of America to Promote Diversity, Economic Mobility
Austin, Texas — Bank of America has selected St. Edward’s University for a $125,000 grant to support low-income students from underrepresented backgrounds and enhance educational opportunities for all students.
Bank of America’s philanthropic investment in St. Edward’s is part of its commitment to invest $1.25 billion over five years toward advancing racial and ethnic equality, and creating economic opportunity.
“Bank of America’s philanthropic vision builds on values that have been part of St. Edward’s culture and tradition since our founding. Those values include promoting social justice and advancing equity,” said President Montserrat Fuentes. “This partnership will expand the ways St. Edward’s educates the hearts and minds of its students, and will provide opportunities for students from all backgrounds to succeed.”
St. Edward’s will leverage Bank of America’s funding to provide economic mobility and workforce development support, with a strong focus on building pathways for low-income students, students of color, first-generation students, Pell-eligible students, College Assistance Migrant Program (CAMP) participants, and The Bill Munday School of Business (MSB) scholars.
“St. Edward’s University is well-known for being an institution that creates opportunities for students to thrive regardless of their family history, background, or socioeconomic standing,” said David Bader, President of Bank of America Austin. “After partnering for over two decades to provide scholarships through the university’s CAMP program, this new grant deepens our impact by supporting low-income students across various disciplines and advances economic mobility by equipping our workforce with a strong educational foundation.”
The CAMP program, which celebrates its 50th anniversary in 2022, is a proven model for breaking the cycle of generational poverty for the children of Hispanic/Latino farmworkers through college attainment. Bank of America has a long history of supporting CAMP students, dating back to the establishment of the Bank of America CAMP Endowed Scholarship in 1992, which has since provided scholarships to 199 CAMP students.
- St. Edward’s has the longest-running CAMP program in the country and is the only one to offer five years of full tuition support.
- 95% of CAMPers are Hispanic, 95% come from Texas and 95% are first-generation college students.
- St. Edward’s six-year graduation rate for CAMP students is 60%, compared to the state’s 48% average.
- CAMP students graduate with 33% less debt than the national average, according to data from Independent Colleges and Universities of Texas.
Funding from Bank of America will also amplify a number of successful programs at The Bill Munday School of Business, including a 3-day startup event, iChallenge on the Hilltop event, and a mentoring program in which team members from Bank of America’s Hispanic/Latino Organization for Leadership and Advancement (HOLA) employee network are paired with St. Edward’s undergraduate students.
A Hispanic Serving Institution (HSI) and a Minority-serving institution, more than 40% of St. Edward’s University students are eligible for federal Pell grants, which are reserved for the neediest families. The university’s success with low-income and first-generation students has garnered national recognition.
“St. Edward’s is uniquely positioned to not just serve students in need, but to ensure every student has the opportunity to attain a higher education and make a difference to create a more just world,” Fuentes said. “We are excited to partner with Bank of America to further enhance the education St. Edward’s provides its students. Together, we are focused on promoting economic mobility and creating vibrant, successful communities.”
Bank of America and St. Edward's University
Top Row (from left): Joe DeMedeiros, Vice President Advancement; Jason DeLaRosa, Director Career & Pre-Professional Program; David Bader, Austin Market President, Bank of America
Bottom Row (from left): Louise Single, Interim Dean of The Bill Munday School of Business; Carla Molina, SVP, External Communications & Austin Market Executive, Bank of America; Sonia Briseno, Director of CAMP; Jessica Wilson, Director Foundation Relations.
About St. Edward’s University:
St. Edward’s University is a private, liberal arts university in the Catholic, Holy Cross tradition with approximately 3,600 students. Located in Austin, Texas, it is one of the top universities in Texas and offers more than 50 undergraduate and 10 graduate programs. With a network of partner universities around the world, St. Edward’s delivers a premier, highly personalized education that helps students explore their own transformational pathways to knowledge, experience, understanding and success. St. Edward’s has been recognized for 19 consecutive years as one of “America’s Best Colleges” by U.S. News & World Report. In the U.S. News 2022 rankings, St.Edward’s continues in the list of top 10 Best Regional Universities in the West for the 3rd consecutive year.
About Bank of America:
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
