Northwestern Mutual's $2.5 million investment in higher education will support 136 diverse students over the next five years

News provided by

Aug 07, 2023, 09:00 ET

Nine students in Milwaukee awarded Northwestern Mutual inaugural HBCU Connection scholarship to further their education at historically black colleges and universities

100 students will be awarded in All-In Milwaukee grants and scholarships to underserved or first-generation college students, providing them access to quality education

MILWAUKEE, Aug. 7, 2023 /PRNewswire/ -- As an advocate for the advancement of Milwaukee residents and the future generation of leaders, Northwestern Mutual announces today its expanded commitment to providing diverse students access to quality education. The company will issue more than $2.5 million in grants and scholarships over the next five years to 136 students from local pipeline schools wishing to pursue higher education through its newly formed HBCU Connection Scholarship program and partnership with All-In Milwaukee.

"If we want to see change in our community, it's imperative we invest in students who will pave the way for the generations to come," said Northwestern Mutual Foundation president Steve Radke. "Our investment will provide these students with access to education and the opportunity to bring diverse perspectives and contributions to their prospective employers. Our commitment goes beyond financial aid; we offer authentic support throughout the entire process."

The HBCU Connection Scholarship, seeks to enrich the lives of students embarking on secondary education at historically black colleges and universities, with Northwestern Mutual pledging to invest more than $500K in scholarships to 36 students over the next five years. The inaugural cohort of nine recipients will receive $7.5K annually their freshman and sophomore years, followed by paid corporate internship opportunities the summer before junior year and senior year respectively. Students will learn more about various career tracks and obtain hands-on experience, complimenting what they're learning in the classroom. Ultimately, the internships will give them the foundation and business acumen to secure post graduate career opportunities, with qualifying students potentially eligible for full-time employment at Northwestern Mutual.

Additionally, $2 million will be given to All-In Milwaukee, a partner of Northwestern Mutual's since 2018. The organization supports high potential, diverse Milwaukee students and this newly announced contribution will enable another 100 students to receive the financial, academic, social, wellness, and career-readiness support needed to attend and graduate from college. Many of these students will be first generation college graduates with goals of building their own net-worth, creating generational wealth.

Through the HBCU Connection Scholarship and the partnership with All-In Milwaukee, Northwestern Mutual is helping to close the academic opportunity gap. The social impact on every one of these students is leading to the growth of Milwaukee.

About All-In Milwaukee
All-In Milwaukee is a college completion program that provides financial aid, advising, program and career support to high-potential, limited-income, diverse Milwaukee students to complete college, build meaningful careers and transform the Milwaukee community. All-In Milwaukee is currently supporting 415 college students from Milwaukee (freshman through senior) who are 100% limited-income, 99% students of color, and 90% first-generation college students. 88% of AIM scholars that have started college with AIM persist, fully enrolled for the fall of 2023. 90% of the students have no student debt thanks to the university packages AIM negotiates for its scholars. 90% of AIM's first class will graduate in 4 or 5 years compared to the 14% of Milwaukee high school graduates earning a two or four-year degree within six years. Comprehensive community support is critical for the growth, and sustainability of All-In Milwaukee. All-In Milwaukee currently

About Northwestern Mutual Foundation
The mission of the Northwestern Mutual Foundation is to improve the lives of children and families in need. The Foundation has given more than $400 million since its inception in 1992 and is designed to create lasting impact in the communities where the company's employees and financial representatives live and work. We accomplish this by combining financial support, volunteerism, thought leadership and convening community partners to deliver the best outcomes. Our efforts are focused nationally on curing childhood cancer, and locally on education, neighborhoods and making our hometown of Milwaukee a great destination. Visit Northwestern Mutual Foundation to learn more.

About Northwestern Mutual
Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With more than $558 billion of total assets being managed across the company's institutional portfolio as well as retail investment client portfolios, nearly $35 billion in revenues, and $2.2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

SOURCE Northwestern Mutual