Achieving the Dream and OneMain Financial Announce National Scholarship Program

Community colleges to award $60,000 to help low-income students realize education goals

NEWS RELEASE

Baltimore, Md. (February 18, 2015) – Achieving the Dream, Inc. and OneMain Financial today announced the OneMain Financial Completion Scholarship Program, a national effort to help low-income community college students get to the finish line and earn a certificate or degree. By providing scholarships to students who are near completion, community colleges in the Achieving the Dream National Reform Network will give these students an extra boost by reducing financial barriers that stand in the way of completion.

“Nearly 70% of community college students in our nation have to work while attending college and 33% work full-time while attending college. These students have to work because one in three community college students nationally have family incomes of less than $20,000 per year, putting them near or below the poverty line. So this scholarship program serves as a brilliant example of how corporate-community college partnerships can help students overcome financial obstacles to successful college completion,” said Dr. William E. Trueheart, President and CEO of Achieving the Dream. “Supplemental support of students is critical to successfully earning college credentials.

Community colleges are increasingly seeking strategies to improve completion rates, particularly for low-income students and students of color. Through this scholarship program, Achieving the Dream and OneMain Financial are working together to help students overcome financial barriers.

“At OneMain Financial, we recognize the need for more students to complete their education and secure jobs that will allow them to support a family,” said Mary McDowell, OneMain Financial President and CEO. “We are excited about the OneMain Financial Completion Scholarships, which will be offered to students who are nearing graduation but are facing potential delays due to financial burdens.”

The following colleges were selected for the OneMain Financial Completion Scholarship. Each of these institutions will receive four $3,000 scholarships:

In fall 2015, recipient colleges will administer and disburse the first round of scholarship funds.


Media Contacts

Lynn Reddy, Achieving the Dream, (240) 450-3830, lreddy@achievingthedream.org

Lillian Suffolk-Kilroy, OneMain Financial, (410) 332-3706, Lillian.suffolkkilroy@citi.com

Achieving the Dream, Inc. is a national nonprofit that is dedicated to helping more community college students, particularly low-income students and students of color, stay in school and earn a college certificate or degree. Evidence-based, student-centered, and built on the values of equity and excellence, Achieving the Dream is closing achievement gaps and accelerating student success nationwide by: 1) guiding evidence-based institutional improvement, 2) leading policy change, 3) generating knowledge, and 4) engaging the public. Conceived as an initiative in 2004 by Lumina Foundation and seven founding partner organizations, today, Achieving the Dream is leading the most comprehensive non-governmental reform network for student success in higher education history. With over 200 institutions, more than 100 coaches and advisors, and 15 state policy teams - working throughout 35 states and the District of Columbia – the Achieving the Dream National Reform Network helps more than 4 million community college students have a better chance of realizing greater economic opportunity and achieving their dreams.

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