Offering a wide array of financial and banking services for individuals, small businesses and corporations, Bank of America serves customers across the U.S. and the world. Bank of America engages in corporate philanthropy though a number of grants, monetary donations and community programs. As part of its corporate philanthropy mission, Bank of America offers several college scholarships to employees and the general public.
Bank of America Foundation
The main source of Bank of America scholarships, the Bank of America Foundation designates the company’s philanthropic donations to the various causes the foundation supports. The Bank of America Achievement Awards Program awards $500 to $2,000 to high school seniors in California who demonstrate academic merit, leadership qualities and outstanding character. The foundation also sponsors the Joe Martin Scholarship that gives $1,000 to $5,000 in scholarship money to Bank of America associates and dependents of associates. Applicants must be younger the age of 23 and have worked for or have a parent who has worked for Bank of America for at least a year.
One way Bank of America provides scholarships is by funding them through private foundations. Through The Community Foundation of Richmond and Central Virginia, Bank of America established the Bank of America Lori Ann Robinson Scholarship.The Lori Ann Robinson Scholarship provides $2,000 a year for four years to a high school senior from central Virginia in honor of Lori Ann Robinson, a former Bank of America employee killed tragically.
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Bank of America also partners with professional organizations to provide college scholarships. Along with the Women’s Business Enterprise National Council, Bank of America offers the Dorothy B. Brothers Executive Scholarship Program. The scholarship honors Dorothy B. Brothers, a former employee of Bank of America and member of the WBENC, and awards nearly 20 scholarships a year to female business owners. The scholarships are intended to help women business owners continue their education and earn advanced degrees to benefit their businesses.
Colleges And Universities
Scholarships from Bank of America also come from endowments given to specific colleges and universities. At the University of Texas at San Antonio, Bank of America awards the Bank of America Endowed Scholarship open to students in child development studies.Each scholarship is worth up to $13,000 and goes to a graduate student involved in graduate work in child development programs. Florida Atlantic University students qualify for the Bank of America Florida’s Community Scholars Program that awards $3,000 annual scholarships to first-time college students attending the university. Applicants must demonstrate financial need, be involved in community service and have a minimum 3.0 grade point average.
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