Strada Education Network launched a $25 million initiative to partner with 28 HBCUs and provide students with scholarships and financial support while focusing on leadership development.
The initiative—developed in cooperation with HBCU’s leadership—fosters the idea that professional networks are a vital step in preparing students for careers, and with the hope that funding more internships will give students the opportunity to gain additional real-life experiences. The program will actually build upon existing career support services on HBCU campuses. And Strada hopes to add more HBCUs to the cohort in the next few years.
“Our global health pandemic exposed so many other challenges—one of those being the socioeconomic injustice facing Black America,” Dr. Roslyn Clark Artis, President of Benedict College and member of the Strada HBCU Advisory Council, told Fierce Education. “We’ve reached an inflection point where policymakers, philanthropists and employers are all acknowledging the critical contributions of Black Americans, past, present and future. As we look to the future, there’s an opportunity to invest more intentionally in today’s students to ensure they can help lead us forward. HBCUs already have a strong track record of producing leaders—and I’m excited that our long history is being recognized and invested in at this critical moment in our country’s history.”
Clark Artis sees three main goals for the initiative: mission advancement, the sharing of knowledge, and development of future leaders. As Strada recognizes HBCUs as a significant driver of degree attainment and economic mobility for Black students, the company wants to help the college network extend its success to more students.
“We also have an exciting opportunity to learn alongside and from the 27 other institutions (for now) and extend our learnings not just across HBCUs, but to all institutions that join in our mission to develop young people eager to make positive contributions to our society and their communities,” Clark Artis said.
HBCUs graduate more than 350,000 students every year and supports 134,000 jobs in local communities. According to Tony Allen, President of Delaware State University and the incoming chair of the President’s Board of Advisors on HBCUs at the White House, the participating colleges and universities have a $15 billion economic impact.
HBCU’s are significant drivers of degree attainment and financial stability for students of color and first-generation graduates.
“I’m very proud of the impact HBCUs have on students’ life trajectory,” Clark Artis said.
She also referenced a McKinsey study from Summer 2021, which points to data confirming that HBCUs are boosting students into higher-income brackets and are key sources of talented workers, all with endowments that are seven times smaller than non-HBCU schools. Yet, like any institution serving low-income students, there are still many challenges facing students at HBCUs. These challenges range from funds to buy professional attire for job interviews, to the financial stability to take on a non-paying internship.
“Strada is helping us connect the dots between a student’s learning and career aspirations through practical funding, but also through exposure to unique experiences like a leadership development program designed intentionally for HBCU students,” Clark Artis added.
Strada is able to offer the HBCU community a valuable resource beyond financial means.
“We appreciate all giving to the university, but as we’ve seen, money departs quickly. What’s most meaningful is an ongoing investment and relationship,” said Clark Artis. “Strada invited us to answer the question: ‘How can their resources help HBCUs do their best work?’ They approached us ready to listen and learn, and ready to make a long-term investment of time, talent and resources. From a mission perspective, Strada has established itself as one of the go-to social impact organizations trying to bridge the gap between learning and economic mobility. HBCUs have a demonstrated impact on the economic trajectory of our students. So, between Strada’s mission, approach and our institution’s impact, it was an obvious match.”
Strada’s Senior Vice President of Philanthropy Daryl Graham and Vice President of Philanthropy Pat Roe will oversee the new program. HBCU council participants include President Clark Artis; Clarence Armbrister, President of Johnson C. Smith University; Leonard Haynes, former U.S. Assistant Secretary for Postsecondary Education and former acting President of Grambling State University; Adena Williams Loston, President of St. Philip’s College; and Quinto Ross Jr., president of Alabama State University.