PROVIDENCE – Fidelity Investments Inc. has expanded its Invest in My Education social impact initiative to three additional regions, including Rhode Island, the financial services corporation recently announced.
Launched in 2023, the $250 million initiative is aimed at helping students in historically underserved and underrepresented communities pursue higher education opportunities.
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Invest in My Education previously operated in Florida, New Jersey, New Mexico, North Carolina, Massachusetts, Texas and Washington, D.C. Joining Rhode Island in the expansion are the Colorado and Kentucky/Ohio (Greater Cincinnati and northern Kentucky area) regions, making for a total of 10 active regions.
“These geographies are regions with a demonstrated need and where Fidelity has a significant presence,” the Boston-based company said in a statement. “We’re thrilled to continue to invest in the future of these communities where our associates and customers live and work.”
As part of the initiative, these regions will host the Fidelity Scholars Program; local organizations will be eligible for Ecosystem-Building Grants to improve pathways for thousands of underserved students; and local higher education institutions will be eligible for Retention and Completion Grants that keep at-risk students in school, according to a news release.
Fidelity said only the Fidelity Scholars Program is available in Washington, D.C.
In addition to expanding the number of regions where the initiative is now active, the company announced that the 591 students in the first two classes of the Fidelity Scholars Program throughout Florida, Massachusetts, New Jersey, New Mexico, North Carolina, Texas and Washington, D.C., are attending college this fall. Sixty-six percent of these students are the first in their families to attend college, and 93% said the program is increasing or maintaining their motivation to earn a degree, according to Fidelity.
“By making higher education more accessible and affordable while providing students with wraparound support like mentorship from 450 Fidelity associate volunteers and other resources, the Fidelity Scholars Program has the potential to provide greater economic mobility and pathways to generational wealth,” the company said. “This in turn can support better long-term outcomes for students and their communities.”
Eligible students in the 10 active regions interested in postsecondary education at accredited and not-for-profit two- or four-year colleges can apply for the Fidelity Scholars Program through philanthropic partner UNCF now through Jan. 30, 2025.
In addition to scholarship dollars, program participants also have access to a group of Fidelity mentors, health and wellness support, financial education, college successes coaches, and more. To apply or refer a student, visit uncf.org/fidelityscholars.
For more information on the program, contact InvestInMyEducation@fmr.com.
