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Goldman Sachs Media Relations
Hispanic Scholarship Fund Joins Goldman Sachs 10,000 Women Initiative
Goldman Sachs Selects HSF as a Partner to Invest in Tomorrow's Latina Business Leaders
SAN FRANCISCO, CA - September 14, 2009 — Hispanic Scholarship Fund (HSF) and Goldman, Sachs and Co. are investing in the next generation of high performing Latina business leaders and entrepreneurs by providing the 10,000 Women Business Leadership Award. The initiative provides comprehensive support for select students, including mentoring from Goldman Sachs professionals and scholarships. The investment is being made through 10,000 Women, a global initiative launched by Goldman Sachs to provide business and management education to underserved women around the world.
The partnership embodies the belief that was confirmed in a recently released Goldman Sachs study entitled "Women Hold Up Half the Sky" which found: investing in education for women may have the highest social return of any investment, when one considers the range of income and health outcomes for such women and their families.
Latinas are the fasting growing group of minority entrepreneurs in the United States. The rapid growth of the Hispanic population, which is expected to reach 30% of the US population by 2050, makes this demographic a rich—yet largely untapped—potential source for top talent. However, statistically it is more difficult for Latinas to pursue non-traditional fields of study, inhibiting post-graduate career options. Many women feel isolated and lack solid role models. The 10,000 Women Leadership Award is designed to provide the financial and mentoring support needed to address this.
Twenty Latinas, including transfer students from community colleges, will be selected over the next two years to receive the 10,000 Women Business Leadership Award. The inclusion of community college transfer students is highly innovative and is the first program managed by HSF that will put these students on a highly targeted track while exposing them to the best-in-class resources through Goldman Sachs mentorship and financial support. Awardees will be selected from the following schools: Baruch College (CUNY), Barnard College, Fordham University, Rutgers University, Columbia University, New York University, University of California Berkeley, and the University of Texas, Austin. With community college the entry point to higher education for approximately 60-75%, the program will encourage students attending community colleges to apply.
"Opening opportunities for women in business leads to both economic growth and better educated, more prosperous communities," said Dina Habib Powell, managing Director and Global Head of Corporate Engagement at Goldman Sachs. "The Hispanic Scholarship Fund is an ideal partner that understands the unique needs of Latinas interested in pursuing careers in business."
"The 10,000 Women Business Leadership Award provides unprecedented opportunity for Latinas. Women who earn a degree tend to make higher salaries, have better health, and succeed as entrepreneurs. We understand the barriers young Latinas face, and we are proud to partner with Goldman Sachs to ensure the success of these talented young women," said Frank D. Alvarez, HSF President and CEO.
About the Hispanic Scholarship Fund
The Hispanic Scholarship Fund (HSF) is the nation's leading Hispanic scholarship organization, providing the Hispanic community more college scholarships and educational outreach support than any other organization in the country. In its 34 year history, the Hispanic Scholarship Fund has awarded over $280M in scholarships to more than 90,000 students in need. For more information on HSF, please visit www.HSF.net.
About 10,000 WomenThe Goldman Sachs 10,000 Women initiative is a five-year campaign to foster greater shared economic growth by providing 10,000 underserved women around the world with a business and management education. The initiative is coordinated in local markets by a network of more than 60 academic and NGO partners. It is funded by Goldman Sachs and The Goldman Sachs Foundation. For further information on the 10,000 Women program, please visit www.10000women.org.
 Lawson, Sandra, "Women Hold Up Half the Sky," Global Economics
Paper No: 164, Goldman Sachs Economic Research, 2008