GENERAL MOTORS CORPORATION INVESTS $225,000 IN SCHOLARSHIP PROGRAMS
San Francisco, CA August 2007 - The Hispanic Scholarship Fund (HSF), the nation's leading organization supporting Hispanic higher education, received a $225,000 contribution from General Motors Corporation to support the HSF/General Motors Corporation Scholarship Program as well as the HSF/General Motors Corporation/Anna Maria Arias Communications Scholarship Program.
The HSF/General Motors Corporation Scholarship Program will support outstanding Hispanic college students, who major in engineering or business. The scholarships awarded by the HSF/General Motors Corporation Scholarship Program will increase HSF’s ability to help Hispanics successfully graduate from college. This funding also enhances HSF’s capacity to assist Latino students and work to achieve HSF’s mission of doubling the rate of Hispanics earning college degrees to 18 percent by 2010.
In addition, this critical funding will support the HSF/General Motors Corporation/Anna Maria Arias Communications Scholarship Program, which benefits Latina students pursuing degrees in communications, broadcast and electronic journalism, speech or photo-journalism. The HSF/General Motors Corporation/Anna Maria Communications Scholarship Program was established by the General Motors Corporation, in memory of Anna Maria Arias, founder and publisher of LATINA Style magazine.
Studies show that students who receive scholarships are more likely to be academically successful than those with less financial aid. A recent study of HSF scholarship recipients, conducted by MPR Associates, Inc., one of the nation's leading education consulting firms, concluded that 80 percent of HSF Scholars graduated within five-and-a-half years. In contrast, the national graduation rate for students of all races and ethnicities in the same period is 53 percent, according to the study. The six-year national graduation rate for all Hispanic students at four-year institutions is 43.5 percent, according to the U.S. Department of Education’s National Center for Education Statistics.
“We are delighted that General Motors Corporation will continue to invest in HSF’s work to provide educational opportunities to the Hispanic community,” said Christopher E. Jones, HSF Chief Operating Officer. “General Motors has been one of our largest and longest-standing investors, and we greatly appreciate their unflagging dedication to Hispanic education in this country.”
About the Hispanic Scholarship Fund
The Hispanic Scholarship Fund (HSF) is the nation's leading organization supporting Hispanic higher education. Founded in 1975 as a 501(c)(3) not-for-profit organization, HSF's vision is to strengthen the country by advancing college education among Hispanic Americans. In support of its mission to double the rate of Hispanics earning college degrees, HSF provides the Latino community more college scholarships and educational outreach support than any other organization in the country. During the 2006-2007 academic year, HSF awarded nearly 4,200 scholarships exceeding $26.5 million. In its 32-year history, HSF has awarded more than 82,000 scholarships worth more than $221 million to Latinos from all 50 states, Puerto Rico, Guam and the U.S. Virgin Islands attending nearly 2,000 colleges and universities.
About General Motors Corporation
Since 1984, General Motors Corporation has invested more than $3.3 million in the Hispanic Scholarship Fund as part of its commitment to providing access to education. General Motors Corporation has supported HSF in its mission to double the rate of Hispanics earning college degrees. Founded in 1908, General Motors Corporation has been the global automotive sales leader since 1931. General Motors Corporation today has manufacturing operations in 32 countries and its vehicles are sold in 192 countries. In 2006, nearly 9.1 million General Motors cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. For more information, visit www.gm.com