Conquering College Costs

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Conquering College Costs

BNY Mellon Enterprise ESG Report 2021

Purpose-driven institutional investors can use their cash investments to help Black college students obtain the finances that can carry them through to graduation. BNY Mellon’s Dreyfus has launched a new investment option in partnership with Howard University for students at this distinguished historically black university.

Dreyfus now offers the BOLDSM share class – which stands for Black Opportunity for Learning and Development – to assist Howard University students at risk of dropping out for financial reasons. As a world-renowned educator of thought leaders and change agents, Howard University was specifically chosen due to its unwavering commitment to underrepresented minorities and dedication to affordable education.

 

The BOLDSM shares make an annual donation of 10% of the net revenue of the share class to support the Graduation Retention Access to Continued Excellence (GRACE) Grant at Howard, with a minimum annual donation of $300,000. GRACE Grants are directed to students with the greatest need, helping them remain on track for graduation. To maximize its impact potential, Dreyfus offers the BOLDSM shares through its flagship Dreyfus Government Cash Management fund, its largest fund in the most significant liquidity space.

 

According to Howard University, one in every three students with no expected contribution to education fees from their families transfers out to another school or out of college by the end of their junior year. Beyond the cost of tuition, students may struggle with the cost of housing and transportation or lack of time for mandatory discipline credits. Recently, COVID-19 has affected the financial health and overall wellbeing of some students and their families.

 

The payouts are already paying off, with an average 15% increase in retention and an average four-year graduation rate of 78% among GRACE grant recipients. That’s a 32% increase compared to students in the same financial category who did not receive GRACE funds.1

 

With this critical funding, grant recipients are able to complete their degree, and emerge equipped to enter the workforce. 

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Source:

1. Dreyfus Launches BOLD Shares Supporting Howard University, February 28, 2022

 

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2022, BNY Mellon had $49 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

 

About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world's largest asset managers, with $2.3 trillion in assets under management as of March 31, 2022. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from eight investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on https://im.bnymellon.com.

 

About Dreyfus
Dreyfus is one of the largest, most trusted liquidity managers in the industry. Our strategies span all major asset classes, including prime, Treasury, US government, municipals and short duration fixed income. Investors can access our capabilities in domestic and offshore money market mutual funds, separately managed accounts and a sub-advised ETF vehicle. With nearly 50 years of history building innovative liquidity solutions, we are committed to building powerful, lasting solutions to meet the financial goals of our clients. Dreyfus is a division of BNY Mellon Investment Adviser, Inc., a registered investment adviser and subsidiary of BNY Mellon. For more information please visit www.dreyfus.com.

 

Investors should consider the investment objectives, risks, charges and expenses of any mutual fund carefully before investing. Contact your financial advisor or visit https://im.bnymellon.com/us/en/institutional/ to obtain a prospectus or summary prospectus, if available, that contains this and other information about the fund and read it carefully before investing. BNY Mellon Securities Corporation, distributor.

 

Government/Treasury Money Market Funds: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

 

Dreyfus funds are distributed by BNY Mellon Securities Corporation, a registered broker-dealer and subsidiary of BNY Mellon.

 

About Howard University
Founded in 1867, Howard University is a private, research university that is comprised of 14 schools and colleges. Students pursue more than 140 programs of study leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced one Schwarzman Scholar, three Marshall Scholars, four Rhodes Scholars, 12 Truman Scholars, 25 Pickering Fellows and more than 165 Fulbright recipients. Howard also produces more on-campus African American Ph.D. recipients than any other university in the United States. For more information on Howard University, visit www.howard.edu.


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