Recognizing the need for systemic change to address barriers that make it difficult for low-income students of color to pursue higher education, PepsiCo and its philanthropic arm, The PepsiCo Foundation, announced a new $40 million scholarship and professional mentoring program to support Hispanic and Black aspiring and graduating community college students.
Launching in Dallas, Westchester, Houston, and Chicago, PepsiCo plans to expand the program to 16 additional cities in the fall and aims to support 4,000 students over five years.
The Illinois Hispanic Chamber of Commerce (IHCC) congratulates PepsiCo, our corporate member, for this incredible initiative.
In Chicago the program will partner with the City Colleges of Chicago to provide scholarships and professional mentoring to residents seeking post-secondary education degrees or trade certificates.
The program aims to support 4,000 students nationwide over five years.
Higher education is a key pathway to better pay, greater job opportunities and long-term economic security.
This $40 million initiative is designed to help Black and Hispanic students pursue and succeed in higher education and gain the training and skills they need for current and future job markets.
The comprehensive program provides students with financial support as well as mentoring and leadership training from PepsiCo employees. Students will also have the opportunity to apply for internships and jobs at PepsiCo.
The program is comprised of two types of scholarships – Uplift Scholarships for students seeking two-year associate degrees or trade certificates and S.M.I.L.E(Success Matters in Life & Education) scholarships for community college graduates transitioning to four-year colleges.
Because students of color are more likely than white students to face challenges like access to affordable housing, childcare support, transportation and food, scholarship recipients will receive funding for education expenses like tuition and books as well as financial support for eligible living expenses.
In lives lost, rates of infection and joblessness, COVID-19 has inflicted a staggering toll on Black and Hispanic communities, exposing deep-rooted health and economic disparities. It has also increased challenges for students of color seeking higher education, threatening their access to jobs for years to come.
This initiative is based on a successful three-year pilot between PepsiCo and City Colleges of Chicago. As part of that pilot, PepsiCo committed to hiring 40 new employees every year from Richard J. Daley College and Olive-Harvey College.
South Side native Antoinnette Smith, who attended Olive-Harvey College, was part of the second class from City Colleges of Chicago to participate in the PepsiCo Customer Integration Center Internship program. She also participated in PepsiCo’s first ever virtual internship in 2020. At the end of the program, Antoinnette was offered a role at PepsiCo supporting sports marketing and product distribution and logistics.
This program is a cornerstone initiative of PepsiCo’s more than $570 million commitment over the next five years to lift up Black and Hispanic businesses and communities in the U.S. to address issues of inequality and create opportunity.
As part of this effort, PepsiCo is increasing its spending with Hispanic- and Black-owned suppliers, increasing diverse leadership within the company and funding community engagement initiatives.
These initiatives so far include:
- The Black Restaurant Accelerator program, a partnership between The PepsiCo Foundation and the National Urban League to support 500 Black-owned restaurants.
- PepsiDig In, a digital platform that encourages consumers to support Black-owned restaurants.
- The Black Restaurants Deliver program, a no-cost service that helps Black-owned restaurants boost online ordering and delivering capabilities.
- LIFEWTR’s Black Art Rising Series and Doritos #AmplifyBlackVoices campaign, which are focused on elevating Black artists and voices.
- A program to support Hispanic-owned small food and beverage businesses that will be announced soon.