Fidelity pledges $250 million to support minority students

By GLENN GAMBOA
AP Business Writer

Fidelity Investments will commit $250 million to a new education initiative to support up to 50,000 underserved minority students with scholarships and mentorship programs in the next five years. The Invest in My Education program, announced Tuesday, plans to increase graduation rates and students’ ability to complete their education debt free. Pamela Everhart, Fidelity’s head of Regional Public Affairs and Community Relations, said the program is part of the firm’s plans to direct more resources to some minority communities. Fidelity research found that 21% of Black students and 32% of Latinx students graduate from college in four years, compared to 45% of white students.