Cisco Commits $150 Million to HBCUs to Minimize Student Debt and Modernize Technology
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Posted By: Kennedy Williams on May 21, 2021 The financial support that HBCUs have been receiving lately from major corporations has been a beautiful thing to see. Companies from an array of different industries have been very generous in the gifts given to our beloved institutions. The latest gift comes on behalf of tech company Cisco. The Student Freedom Initiative — a nonprofit dedicated to helping students at minority-serving institutions — is partnering up with Cisco and AVC Technologies and Cisco has committed to investing $150 million to support HBCUs. $100 million will go towards modernizing technology at HBCUs and $50 million will go towards helping minimize student debt for HBCU students. "Their expertise and generosity will ensure that HBCUs are secure and robust institutions that empower Black students," Robert F. Smith, Chairman of SFI, said in a statement. "And Cisco's added financial commitment to students, making them the first anchor corporate partner of SFI, will help liberate students from crushing debt and allow them to make their own life choices." Cisco's $50 million investment is just the first step to helping SFI reach its goal of a $450 million endowment supporting 4,500 struggling students. "This partnership is an investment in our future workforce, empowering AA/Black STEM students and equipping them with the financial and technology tools to be resilient and successful long term," Maria Martinez, Cisco's chief operating officer, said in a statement. "We remain committed to this community – to be seen, heard, valued, and invested in." SOURCE: Business Insider If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Kennedy Williams
From Loganville, GA Spelman College class of 2020 Member Since July 2016 |
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