KeyBank to invest in Central State University to establish the KeyBank Scholars Program, provide tuition support for students
The program will be a robust scholarship and student development intervention to enhance the student experience and promote long term student success outcomes.
Today, KeyBank and the KeyBank Foundation proudly announced an investment of $480,000 in Ohio’s only public Historically Black College or University (HBCU) and 1890 Land-Grant Institution, Central State University. Grant dollars given to the University will establish the KeyBank Scholars (KBS) Program to implement summer bridge programs, providing tuition support for 40 students over a five-year period.
The KBS Program will become a part of Central State's Student and Institutional Success Model (SISM) geared to improve student academic outcomes. The program will be a robust scholarship and student development intervention to enhance the student experience and promote long-term student success outcomes.
“All of us at KeyBank are so proud to partner with Central State University to establish the KeyBank Scholars Program,” said Dayton KeyBank Market President Jeff Bardonaro. “We are committed to helping local students and families thrive by providing tuition support to help them reach their goals. This investment will help ensure a bright future for many CSU students and build even stronger communities in our region for years to come.”
“Central State University is deeply honored to partner with KeyBank in establishing the KeyBank Scholars Program,” said Central State University President Dr. Morakinyo A.O. Kuti. “This significant investment underscores the importance of providing our students with not only financial support but also the developmental resources they need to thrive. The program aligns perfectly with our commitment to fostering academic excellence and long-term success for our students.
"Through this partnership, we are building a brighter future for our scholars, empowering them to become leaders who will make a lasting impact in their communities and beyond.”
Over the grant period, 40 students will take part in a summer bridge program for five weeks prior to their first year of college with the objective to adjust participants to the academic and social undergraduate experience. Participants will receive $2,000 per year for four years in scholarships upon meeting program criteria. Those enrolled in the program must maintain a 3.0 GPA or higher to receive scholarship awards.
Previous Central State summer bridge program results show that 83% of participants are on track to graduate within regular program schedule with an average GPA of 3.15. In comparison, the national four-year graduation rate for all students is 45% and the rate for African American students is 26%.
ABOUT KEYCORP
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187 billion at June 30, 2024.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
