Three HBCUs have been added to join the educational firm, EAB’s Way Forward Initiative, a multi-year collaboration between EAB and Bank of America to support historically Black colleges and universities (HBCUs).
Tuskegee University, Harris-Stowe State University, and LeMoyne-Owen College will join the 2021 inaugural cohort of five HBCUs.
EAB and Bank of America established the Way Forward Initiative in 2021 in partnership with five HBCUs working together to reach institutional goals. The HBCUs in the program received an EAB support team and access to EAB’s Global Research Partnership, which will guide them through assessments and tactical methods to improve students retention and graduation rates.
The program also offers leadership training, on-demand market research, financial stability, and operational efficiency.
Funding provided by Bank of America as part of its $1.25 billion, five-year commitment to advance racial equality and economic opportunity will work with each institution on its goals. This advancement builds on Bank of America’s commitment to aiding all backgrounds in finding meaningful employment and opening doors for diverse talent while introducing HBCU students to opportunities across industries and employers.
“Despite their vital role in creating opportunities for students and communities of color, many HBCUs face daunting financial pressures caused in large part by a historical lack of support from federal and state governments,” Sally Amoruso said, EAB Chief Partner Officer. “EAB is proud to partner with Bank of America to provide data, insight, and advice to help propel HBCUs and their students into a brighter future.”
Before the latest three HBCUs being part of EAB, The original five HBCUs selected for the program are Central State University, Huston-Tillotson University, Claflin University, Savannah State University, and Virginia Union University.
“Education is one of the most powerful tools available to address economic and social inequality,” Ebony Thomas said, Racial Equality and Economic Opportunity Initiatives executive for Bank of America. “The Way Forward Initiative is focused on advancing student and institutional success by providing advisory services to help schools set strategic priorities, establish goals for long-term financial sustainability, and accelerate their progress toward those goals.”
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“Our work with EAB and Bank of America has already been extremely beneficial in the preparations for our upcoming accreditation review,” State University Interim Provost Edward Hill Harris-Stowe, said. “The services and support provided through the Way Forward Initiative have also helped us to better inform and engage all critical stakeholders.”
Through the program, EAB kick-started its research and advisory services to all 37 Tribal Colleges in the United States in cooperation with the American Indian Higher Education Consortium.
