TIAA Bank makes $1.5 million contribution to scholarship program
MARCH 12, 2019 |
TIAA Bank announced a $1.5 million contribution to Step Up For Students. Pictured (adults from left to right) are Step Up For Students Development Officer Renae Sweeney, TIAA Bank Senior Vice President and CRA Officer Joseph Hernandez, and Step Up For Students COO Anne White. They are joined by students who are benefiting from the scholarship.
“We are proud of the impact we’ve had on Florida schoolchildren through our contributions to the Step Up For Students Scholarship Program,” said Joseph Hernandez, Senior Vice President and CRA Officer of TIAA Bank. “TIAA Bank is committed to helping our community become a better place to live and work and we know this relationship is doing just that.”
Step Up For Students is a nonprofit organization that helps manage the income-based Florida Tax Credit Scholarship Program. The program is funded by corporations with tax-credited donations and allows parents and students to choose between a K-12 scholarship to support private school tuition and fees, or one that assists with transportation costs to out-of-county public schools.
“We are thrilled that TIAA Bank continues to help us provide educational options for lower-income families in Florida,” said Doug Tuthill, president of Step Up For Students. “We are grateful for their generosity and commitment to helping students in their community.”
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.
About TIAA Bank
As a part of TIAA’s Retail & Institutional Financial Services business, TIAA Bank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. More information on TIAA Bank can be found at TIAABank.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.