Equitable Excellence℠ Scholarships Awarded to 200 Graduating High School Seniors
June 06 2023 - 10:00AM
Business Wire
Annual scholarship program advances Equitable’s mission to build
stronger communities through college access and career
advancement
Equitable, a leading financial services organization and
principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today
announced the 2023 recipients of its annual Equitable Excellence℠
Scholarship, which recognizes students who demonstrate the
qualities of leadership, determination and resilience as critical
enablers of their future success.
Designed to help students get to and through college, the
holistic scholarship program provides financial assistance as well
as year-round workshops covering budgeting, mental health, personal
branding and resume writing. Approximately 94% of Equitable’s 2022
scholarship recipients are returning for their sophomore year,
which is higher than the national average.1
“We are proud of these students and look forward to equipping
them with the holistic support they need to overcome challenges
they may encounter in college and ultimately prepare them to
compete in the ever evolving 21st century workforce,” said Nick
Lane, President of Equitable.
Of the 200 scholarship recipients, half will receive $5,000
renewable scholarships, which will support them throughout all four
years of their undergraduate study. The other half will receive
one-time $2,500 scholarships that can help them underwrite the
immediate costs associated with higher education, such as tuition,
books or fees.
The evolution of the Equitable Excellence scholarship
program
Jarian Kerekes, head of Social Impact and Community Engagement
at Equitable, notes that the Equitable Excellence scholarship
program has had a greater impact on students in 2023, stemming from
changes made to the program in 2021 to reach and support a more
diverse group of students—particularly those from underserved
communities.
For example, 70% of the 2023 recipients are BIPOC—a 26% increase
from 2022. And 55% of the 2023 recipients are first-generation
college students. All of them demonstrate some level of financial
need.
Equitable also adapted the scholarship’s application criteria
for the 2022 scholarship award cycle to focus more on GPA and less
on standardized test scores and class rank, the former of which
many experts believe is a more accurate predictor of post-secondary
education success.
The company also reoriented the application process to focus
more on personal essays that underscore students’ aspirations and
potential, and less on extracurricular activities, which often
require additional financial resources and can be challenging for
students who are financially disadvantaged. In addition,
recommendation letters were removed from the application process,
which also can present obstacles for students who lack social
capital.
Equitable also forged a relationship with Common App in 2022 to
expand the scholarship’s reach to low-income and underrepresented
high school seniors and formed a new, three-year research
partnership with University of North Carolina at Charlotte’s Urban
School Counseling Collaborative designed to reveal strengths and
opportunities within college access programs.
In year two of Equitable’s collaboration, Common App referred
19% of minority applicants and 20% of first-generation applicants
to the Equitable Excellence scholarship. Of the 200 students
awarded with an Equitable Excellence Scholarship in 2023, 41
received the scholarship through Common App, up from just two
students who received the scholarship through Common App in
2022.
In addition, Equitable will convene with several scholarship
providers and education thought leaders at conferences throughout
the remainder of 2023 to discuss best practices, engagement
strategies and overall design, implementation and measurement of
scholarship programs, using the Equitable Excellence Scholarship as
a model.
“We are pleased with the impact our Equitable Excellence
scholarship program has had on students in underserved communities
thus far,” said Kerekes. “We’re on a continuous journey to test new
ideas that will have a more meaningful impact on the lives of
current and future recipients and inspire other organizations to
make their scholarship programs more accessible and efficient,”
said Kerekes.
The Equitable Excellence Scholarship is supported through a
strategic partnership with Scholarship America, who selects
scholarship recipients based on the criteria Equitable
establishes.
To view the 2023 recipients, please visit this link. To learn
more about the scholarship program, visit this link.
About Equitable Equitable, a principal franchise of
Equitable Holdings, Inc. (NYSE: EQH), has been one of America’s
leading financial services providers since 1859. With the mission
to help clients secure their financial well-being, Equitable
provides advice, protection and retirement strategies to
individuals, families and small businesses. Equitable has more than
8,000 employees and Equitable Advisors financial professionals and
serves 2.8 million clients across the country. Please visit
equitable.com for more information. Reference to the 1859 founding
applies specifically and exclusively to Equitable Financial Life
Insurance Company (Equitable Financial) (NY, NY).
GE-5641470.1(04/23)(exp.04/25)
_____________________________ 1 CollegeTransitions.com,
“DataVerse: Retention and Graduation Rates,” 2023. Data was
collected from each institution's Common Data Set for 2021-22,
(https://www.collegetransitions.com/dataverse/retention-and-graduation-rates).
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Media Abby Cohen mediarelations@equitable.com (212)
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