Education

Washington, DC--(HISPANIC PR WIRE)--March 22, 2006--The search for the 2006 Hispanic College Fund Scholars is quickly coming to a close. The application deadline for the HCF Scholarship Program is April 15, 2006. HCF Scholars hail from all over the country and are studying disciplines such as engineering, business, health sciences, technology and finance. HCF Scholars are awarded scholarships based on their leadership, commitment to education, and financial need.

“I was fortunate enough to be selected for this prestigious award two years in a row,” explains Alicia Romero, an HCF Scholar from Mesa, Arizona. “I am the first in my family to obtain a college degree and I hope that this will inspire many of my family members to follow in my footsteps.”

Over 800 HCF Scholars will be selected by a committee of professionals and leaders dedicated to diversifying the workforce. Scholarship recipients will be announced on July 15, 2006 and a select group will be honored at the Thirteenth Annual Scholarship Awards Gala in Washington, DC at the JW Marriott on October 20, 2006.

“I was selected to go to Washington, DC for both the 2004 and 2005 Awards Galas,” continues Romero. “There I met and stayed in touch with many professionals who share my passion for dispelling negative Hispanic stereotypes. HCF provided me with an extensive career network and mentorship which were instrumental in helping me find the right job at a company I love.”

At the 2004 Gala, Romero met a representative of the Estée Lauder Companies, Inc. and through this relationship she received a summer internship at Estée Lauder in the Product Development department. She graduated from Pepperdine University in December and Estée Lauder offered her a full-time position in the same department which she has recently accepted.

“Like Alicia, sixty percent of our students are the first in their family to go to college. We provide them with scholarships, but we know we need to give them so much more,” says Fernando Barrueta, President and CEO of the Hispanic College Fund. “Through additional programs, we tie HCF scholars to our ever-growing network of corporate executives and community leaders. The connections that HCF scholars make lay the groundwork for their professional careers. HCF scholars have gone on to work at companies such as Lockheed Martin, SallieMae, Boeing, and Estee Lauder.”

Recent reports have shown demographics in the U.S. are quickly changing. By the year 2030 Hispanics will account for all of the growth in the U.S. workforce. However, only half of all Hispanics who enroll in college complete 4 year degrees. According to a study published this month from the National Academies, in 2000 the education gap between Hispanics and whites cost $100 billion in lost earnings.

Because of a need for more students like Romero, companies such as Ford Motor Company, Google, Lockheed Martin Corporation, Denny’s, MasterCard International and Sodexho are contributing significant scholarship funds to HCF.

“We believe that American corporations have a responsibility to help develop the next generation of business and technical leaders,” says Shan Carr Cooper, Vice President of Equal Opportunity Programs & Diversity at Lockheed Martin. “We partnered with HCF, which does an outstanding job of connecting with the best and brightest youth who have tremendous potential in developing their own lives and contributing to our nation.”

The vast majority of Hispanic students leave school for financial reasons, and with recent cuts to federal financial aid the need for financial support is overwhelming . In 2005, among HCF Scholarship applicants alone, HCF was unable to meet over $30 million in financial need. Students are carrying this financial burden through loans, full-time jobs and falling GPAs. In 2006, with the help of corporate partners, HCF will provide $2 million in scholarship funds.

“Ford believes that education inspires, empowers and opens the door to a world of opportunities and economic mobility,” says Jim Padilla, President and Chief Operating Officer of Ford Motor Company, “We are proud of our continued partnership with the Hispanic College Fund, which is building opportunities and a better quality of life for generations to come.”

Sponsors for the 2006 HCF Scholarship Program include The Sallie Mae Fund, the Association of Latino Professionals in Finance and Accounting (ALPFA), Sodexho, Denny's, Lockheed Martin Corporation, Ford Motor Company Fund, Google, MasterCard International, Cracker Barrel, General Dynamics, M&T Bank, ICI Education Foundation, Computer Packages, PricewaterhouseCoopers, Estée Lauder Companies, Marriott International, Jackson & Perkins, Eastman Kodak, Hanley Wood LLC, Starwood Hotels, Holguin, Fahan & Associates, Telemundo 64, Burlington Northern Santa Fe Foundation, Provident Bank, DeWalt, and Ernst & Young.

The Hispanic College Fund is a private non-profit organization dedicated to developing the next generation of Hispanic professionals in America. The HCF mission is to provide Hispanic students with the vision, resources, and mentorship needed to attain successful careers and become community leaders. Since its founding in 1993, HCF has supported the education of over 3,000 financially disadvantaged Hispanic students seeking careers in business, science, engineering and technology with over $6 million in grants. Through programs like the HCF Scholarship Program, Hispanic Youth Symposium, Latinos on the Fast Track (LOFT), HCF Connections and the HYP Leadership & Development Program, HCF is enriching lives and building bridges for our future Hispanic leaders.

Please visit http://www.hispanicfund.org or call 1-800-644-4223 for more information.