Wells Fargo Bank has announced the launch of its Wells Fargo Student Impact Scholarship, which is committing $1 million in grants to students making an impact in their communities who have found themselves in unexpected financial difficulty due to the coronavirus pandemic.
The scholarship aims to bridge the financial gaps these students face by helping them cover the essential costs of their education, such as tuition, books, computers, materials or technology for distance learning and other related expenses.
“Despite the incredible disruptions the COVID-19 pandemic has created in their personal and academic remain some of the key drivers of change. Many are rising to the challenges we are all facing today, and they are working hard to make a difference in their communities,” said John Rasmussen, leader of the Student Lending at Wells Fargo initiative. “These students are making a positive impact but are faced with a negative impact from COVID that could limit their options. We want to help them remain on their academic paths and continue cultivating their potential to benefit those around them.”
The program, which will begin accepting applications on Sept. 14, will include an optional mentorship program in which awardees will be paired with Wells Fargo employees to help mentor and guide them through their journey to and beyond graduation.