Allstate and the Tom Joyner Foundation are asking alumni, students and supporters of Historically Black Colleges and Universities (HBCUs) to help raise scholarship funds for deserving students as part of the fourth annual Allstate Quotes for Education program.
For every person who receives an insurance quote from an Allstate agent and mentions Quotes for Education between August 1 and Dec. 31, 2012, Allstate will donate $10, up to a total donation of $150,000. The funds will be donated to the Tom Joyner Foundation and earmarked for general scholarship funds to assist students attending HBCUs.
For the first time ever, participants in this program will also have a chance to vote for the HBCU of their choice to receive a separate $50,000 donation for scholarships specifically at that school.
“Each year, hundreds of students will be forced to drop out of college due to financial hardship,” said Cheryl Harris, senior vice president at Allstate and graduate of Florida A&M University. “The Quotes for Education program brings to life a vision shared by Allstate and the Tom Joyner Foundation, which is to support programs for HBCUs that create educational opportunities for the next generation.”
According to a 2012 study by The Journal of Blacks in Higher Education, only four out of 37 HBCUs surveyed has a black student graduation rate of more than fifty percent within six years. The study also noted a declining trend in graduation rates since 2006, likely driven by recent economic conditions that have limited financial aid from public and private sources.
A 2009 study by the non-profit research group Public Agenda found that most young adults who started but did not complete higher education cited the need to work more as a major reason that forced them to drop out of school.
This marks the second year that Allstate has partnered with the Tom Joyner Foundation for the Quotes for Education program. Additionally, for the past eight years, Allstate has title-sponsored the Allstate Tom Joyner Family Reunion. Both programs are part of Allstate’s year-round commitment to create, support and sponsor programs that empower the African-American community.
“This is a big help to these students,” said Tom Joyner, chairman and founder of the 14-year-old foundation bearing his name. “Given this tough economy these days, every single dollar we can provide to help a student finish their education will make a difference.”
To participate in the Quotes for Education program, HBCU supporters should visit www.allstate.com/represent to find a nearby participating agent or receive a quote online, or call 855-REP-HBCU at any time to receive a quote from an Allstate representative. Supporters can also join and follow the conversation on Twitter via the hashtag #RepHBCU to encourage the participation of friends and family.