Regions Foundation Awards Tuskegee University a $250,000 Grant for Scholarships Grant reflects the Regions Foundation’s ongoing work to create more inclusive prosperity.
CONTRIBUTED BY
REGIONS FOUNDATION
Tuskegee University announced last week it received a $250,000 grant from the Regions Foundation to support scholarships for students. The scholarships are expected to support at least 50 students as they pursue their degrees.
The Regions Foundation is a nonprofit initiative that is primarily funded by Regions Bank. The foundation supports investments in education and workforce readiness, economic and community development and financial wellness. The $250,000 scholarship grant announced Wednesday is part of a two-year, $12 million commitment announced in 2020 by the Regions Foundation and Regions Bank to support various organizations that are advancing racial equity and economic empowerment for communities of color while creating more inclusive opportunities for success.
Specifically, the grant to Tuskegee University will support students in Tuskegee’s Low-and- Middle Income (LMI) Scholarship Program.
“The Regions Foundation is committed to advancing education opportunities for students across our communities while removing barriers to success,” said Marta Self, executive director of the Regions Foundation. “Those barriers often include financial challenges in obtaining a degree, and our goal is to use the foundation’s resources in a way that connects more students with the opportunity to complete their education and pursue rewarding careers. We appreciate the work of the educators, administrators and staff of Tuskegee University, and we are honored to support their work to empower students through a world-class education.”
In 2020, COVID-19 negatively impacted the university’s enrollment projections by 4%, causing a drop in enrollment by nearly 270 students compared to recent years. Funding from the Regions Foundation will help Tuskegee bridge the enrollment gap by offering scholarships to low-and moderate-income students who are eligible to receive federal funding.
Eligible students can apply for funding through Tuskegee’s Office of Financial Aid as part of their application for financial assistance.
In addition to the grant from the Regions Foundation, Tuskegee University has long received financial and volunteer support from Regions Bank. Last year, Regions Bank provided emergency financial assistance for students impacted by COVID-19. Funding from the bank provided access to technology and equipment for students to transition to online studies. Regions Bank supports annual career fairs and other events on campus as well. Additionally, bank associates taught financial education courses to students as part of the bank’s community engagement priorities.
“We have had a long-term relationship with Regions Bank as they have managed the institution’s financial resources for many years,” said University President Dr. Charlotte P. Morris. “We are grateful for the opportunity to begin a new relationship with the Regions Foundation that has shown a true commitment to helping those in their community. Over 70% of Tuskegee students are on some type of financial aid. As our students continue to strive toward completing their education during these challenging times, the investment by the Regions Foundation serves to reduce the barriers to success for them.”
Savannah Williams, a biology and pre-dental student from Atlanta, Georgia, received a Regions Foundation scholarship and said it will help her focus on graduation.
“Receiving this scholarship has helped alleviate my financial stress, so that I can focus more on my studies,” Williams said.
She is expected to graduate in 2023.
In addition to the Regions Foundation’s support at Tuskegee, the foundation has also recently supported student scholarships at other HCBUs across Alabama, Florida and Tennessee.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grant-making program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.