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IRVING, Texas -- ExxonMobil Foundation donated $200,000 to the Tom Joyner Foundation to help 50 students attending 11 Historical Black Colleges and Universities (HBCUs), for the third consecutive year.
"ExxonMobil remains committed to supporting higher education, and we are extremely pleased to partner with the Tom Joyner Foundation to provide much needed funding to these well-respected universities and their students," said Kenneth P. Cohen, vice president for public affairs, Exxon Mobil Corporation, and chairman, ExxonMobil Foundation. "We applaud the Tom Joyner Foundation for their ongoing dedication and leadership within the African-American community and look forward to embarking on this partnership to help open more doors for students pursing higher education."
The Tom Joyner Foundation -- a direct provider of money to HBCUs -- will use the donation to provide $18,000 monthly for scholarships to an HBCU selected by the Foundation over a period of eleven months, and will also help more African-American students complete their higher education, reducing dropout rates resulting from financial strain, according to a company release.
"Thanks to ExxonMobil's support, we will continue our efforts to promote higher education and provide Historical Black Colleges and Universities with money for scholarships," said Tom Joyner, founder of the foundation that bears his name.