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Wells Fargo Gives $300K “Promise”

by Melissa Bailey | Apr 28, 2011 11:14 am

(3) Comments | Commenting has been closed | E-mail the Author

Posted to: Higher Ed, Schools, School Reform

The city is getting a boost from two donors for its nascent effort to encourage public school kids to go to college.

Wells Fargo plans to donate $300,000 toward New Haven Promise, the company announced in a press release Wednesday. A second donor, Yale-New Haven Hospital, will contribute an unspecified amount as well.

Wells Fargo’s contribution will go toward a new partnership between the public schools and an outfit called College Summit, according to Kevin Burke, a commercial loan officer and senior vice president with the bank.

College Summit is working to create a “College Corps” of volunteers, including local graduates, who will go “door to door” to work with families to get their kids ready for college. It will help students write essays and fill out applications, and develop a new college readiness curriculum for grades K to 12.

Only 50 percent of New Haven Public School graduates enroll in a second year of college within two years of graduating from high school, according to the most recent data. The district has set a goal to boost that number to 55 percent for current high school seniors, and another 5 percent for each subsequent grade.

The College Summit piece aims to support the main component of New Haven Promise, a scholarship program that guarantees up to full college tuition for city high schoolers who keep a 3.0 grade point average and show up to class. New Haven Promise is funded by Yale University and the Community Foundation For Greater New Haven.

Burke said the donation comes from the Wells Fargo Foundation, which focuses on tackling the achievement gap in grade school and supporting secondary education.

The bank plans to make a formal announcement on Friday at 10 a.m. at the Metropolitan Business Academy.

The contribution comes as the bank takes on a greater philanthropic role in New Haven on the heels of a merger with Wachovia bank.

Melissa Bailey Photo The Wells Fargo Foundation also made a $30,000 contribution in the fall to support a “middle college” initiative run by Gateway Community College, Burke announced in a press event Tuesday. The donation expands a pilot program that has been going on at the Cooperative Arts and Humanities High School, where 25 ninth and 10th graders get extra tutoring and take classes at Gateway for credit. With the extra money, the school district is expanding the program to James Hillhouse High and New Haven Academy.

Gateway officials accepted a ceremonial check (pictured) for that contribution Tuesday. Gateway President Dorsey Kendrick, who just got appointed to the New Haven Promise board, said the middle college program helps kids earn up to 35 college credits, and prepares them by completing remedial work before starting college.

“Success is about completion,” Kendrick said.

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posted by: Threefifths on April 28, 2011  3:44pm

Gateway officials accepted a ceremonial check (pictured) for that contribution Tuesday. Gateway President Dorsey Kendrick, who just got appointed to the New Haven Promise board, said the middle college program helps kids earn up to 35 college credits, and prepares them by completing remedial work before starting college.

They better hope that check is not rubber.Wells Fargo give me a break.Wells Fargo is one of the biggest corporate vampires in the country.Ask some of the home owners who have and had Mortgages with wells fargo.How about this.

Mortgage Exposure Means Bad News for BOA and Wells Fargo
Mark Whysall | Jan 23, 2011

http://www.adi-news.com/mortgage-exposure-means-bad-news-for-boa-and-wells-fargo/27571/


Wells Fargo Sued for Predatory Lending Practices
Jeniffer Winget | Jul 28, 2010

http://www.adi-news.com/wells-fargo-sued-for-predatory-lending-practices/22830/

Check out there history.

The Wells Fargo Watch

http://www.innercitypress.org/wells.html


Success is about completion,” Kendrick said

No when it comes to these corporate vampires success is this.

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

Frederic Engels

posted by: FIX THE SCHOOLS on April 29, 2011  8:44am

What a wonderful contribution to New Haven’s school reform efforts, Gateway CC, and especially our students.

Congratulations Wells Fargo and Mr. Burke!

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