Step Up for Students receive $3 million contribution for scholarship program from BB&T
MARCH 1, 2019 |
BB&T made a $3 million contribution to Step Up For Students, a Florida-based nonprofit, which administers scholarships to lower-income schoolchildren. BB&T’s donation will fund scholarships for 447 Florida children, giving them the opportunity to attend the school that best meets their learning needs.
“BB&T believes in giving back to the communities in which we live and work,” said Scott Keith, BB&T North and Central Florida Regional President. “We are proud of the impact we’ve had on Florida schoolchildren through our contributions to the Step Up For Students Scholarship Program.”
BB&T has provided 938 scholarships since first partnering with Step Up For Students, a nonprofit organization that helps manage the income-based Florida Tax Credit Scholarship Program. The program is funded by corporations with tax-credited donations.
“We are honored to have BB&T as a partner in our mission to help lower-income Florida families access schools that best fit their children’s unique learning needs,” said Doug Tuthill, Step Up For Students president. “We are grateful for their generosity and their commitment to giving back to their community.”
The Florida Tax Credit Scholarship Program for financially disadvantaged schoolchildren allows parents and schoolchildren to choose between a K-12 scholarship that helps with private school tuition and fees, or one that assists with transportation costs to out-of-county public schools.
For the 2018-19 school year, Step Up For Students is serving more than 98,500 students throughout Florida with tuition scholarships valued at up to $6,519 per student for kindergarten through fifth grade, $6,815 for sixth through eighth grade, and $7,111 for ninth through 12th grade. More than 1,800 private schools participate in the scholarship program statewide.
BB&T is one of the largest financial services holding companies in the U.S. with $225.7 billion in assets and market capitalization of approximately $33.1 billion as of December 31, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,800 financial centers in 15 states and Washington, D.C., and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com
About Step Up For Students
Step Up For Students is a nonprofit organization that helps administer the income-based Florida Tax Credit Scholarship Program. Students who qualify for the national free or reduced-price lunch, or those who are homeless or in foster or out-of-home care, may qualify. The scholarship program provides tuition assistance to the private school of their parents’ choice or financial assistance to offset the transportation cost to an out-of-district public school. Since 2001, Step Up has awarded more than 680,000 scholarships.
A first-of-its-kind study on the long-term effects of the scholarship program by The Urban Institute found that students who use the scholarship four or more years are up to 43 percent more likely to go to college and up to 29 percent more likely to earn an associates degree than their peers.
Step Up also helps administer the state-funded Gardiner Scholarship for Florida students with certain special needs, plus two new scholarships, the Hope Scholarship for public school students who are bullied and the Reading Scholarship Accounts for third- through fifth-grade students enrolled in public school who struggle with reading.
For more information, visit: www.StepUpForStudents.org.