Thrive Academies program will advance Thrive Scholars' mission to broaden the corporate talent pipeline and enhance economic mobility for low-income, first-gen college-goers nationwide
LOS ANGELES, June 26, 2024 /PRNewswire/ -- Thrive Scholars, a national nonprofit that helps high-achieving, first-gen students prepare for and graduate from top colleges to support their success in careers that lead to economic mobility, today announced that its signature program has expanded to New York and Los Angeles. The launch of Thrive Academy – New York Sponsored by Citadel at Mercy University, Manhattan Campus, and BMO Thrive Academy – Los Angeles at the University of Southern California (USC) marks the first major step in the nonprofit's plan to establish 10 regional Thrive Academies nationwide over the next four years.
The launch of Thrive Academies stems from the success of Summer Academy, Thrive Scholars' flagship six-week program that provides rising high school seniors and rising college first-year students with more than 350 hours of college-level academic preparation in calculus, coding, and writing, in addition to college admissions counseling and career development programming.
Now, thanks to the support of Citadel, Citadel Securities, and BMO, 5,000 more high-achieving students from low-income backgrounds will have the opportunity to experience transformative higher education opportunities and impactful careers.
"The funding we've received from our strategic plan investors will make an immediate impact and kickstart our first two regional Thrive Academies," said Tyra Montina, President and Chief Operating Officer of Thrive Scholars. "Thanks to the generosity of our donors, we have already raised more than $25 million of our $60 million fundraising goal. This milestone advances our plan to launch 10 regional Thrive Academies over the next four years, giving 5,000 more academically talented first-gen students from economically disadvantaged backgrounds the opportunity to experience transformative higher education opportunities and impactful careers."
Partner Contributions and Impact
Citadel and Citadel Securities have contributed $7.5 million to support the launch of Thrive Academy – New York Sponsored by Citadel, reflecting their steadfast commitment to empowering Thrive Scholars. This commitment builds on a years-long relationship between the financial firms and Thrive Scholars, which to date has included an annual sponsorship of 120 Thrive Scholars, annual lead sponsorships of Chicago Summer Academy 2, and the opportunity to participate in an externship to enhance the technical skills of the Scholars.
BMO Thrive Academy—Los Angeles is made possible by BMO, whose significant $3 million donation underscores their commitment to eliminating barriers to access higher education and to creating progress in underserved communities across Los Angeles. BMO will also collaborate closely with Thrive Scholars to develop the Career Pathways curriculum, crafting customized programs, company-specific training, and tailored student exercises.
The new Thrive Academy – New York Sponsored by Citadel and BMO Thrive Academy – Los Angeles will each host an inaugural cohort of over 150 students for six intensive weeks of academics. This cohort boasts an impressive 3.9 average GPA and comprises 83% first-generation college-goers. They come from an average annual family income of $51,000.
The Impact of Thrive Academies
Thrive Scholars has been supporting high-achieving, economically under-resourced students since 2002. Initially, despite a 90% college graduation rate among Scholars, many were not securing competitive internships, gaining admission to top graduate schools, or graduating with degrees necessary for desired careers. These students, often from under-resourced high schools, lacked adequate preparation for the rigorous coursework at top colleges, particularly in math and writing, leading to lower college GPAs and high dropout rates from STEM majors.
In response, Thrive Scholars revamped its program in 2012 to include Summer Academy, providing intensive academic preparation and holistic support. This shift was enormously effective: Summer Academy participants not only achieved higher grades but were also 33% more likely to persist in STEM and 10% more likely to graduate compared to their peers. These results underscore the importance of Thrive Academies in bridging educational gaps and fostering academic and career success.
"Being given an opportunity to attend Thrive Academy has to be the greatest thing that has happened to me since high school," said Wilson Zheng, a high school senior and Thrive Academy – New York Scholar. "The 2-year college program is truly amazing and to think I got accepted means a lot. Not only do I get to prepare and thrive in college, I also get to learn a lot of new things, socialize, and find a passion. With that said, this summer means a lot. I am looking forward to making connections and friends during this summer experience and I hope to succeed and thrive along with all the other Scholars."
The curriculum for Thrive Academies will retain the core academic elements of college-level calculus, writing, and critical thinking from Thrive's Summer Academy and introduce new components of non-academic programming with the help of outside partner organizations to provide holistic college preparation.
Transforming Opportunity and Addressing Inequities
The launch of Thrive Academies supports Thrive Scholars' vision for transforming opportunities for students from under-resourced backgrounds by addressing systemic barriers that restrict access to higher education and career success. Thrive Academies are a critical addition to the suite of impactful programs Thrive Scholars provides, including its 6-Year Program, which extends support through college graduation to early career.
Thrive Academies are made possible through the donations from more than a dozen generous donors, including BMO, The Eli and Edythe Broad Foundation, Ceres Foundation, Citadel and Citadel Securities, Datadog, Deloitte Foundation, General Motors, Google, Howmet Aerospace Foundation, Pillsbury Winthrop Shaw Pittman LLP, Takeda, and anonymous donors.
About Thrive Scholars
Thrive Scholars is a national nonprofit that for 20 years has worked hard to help high-achieving, first-gen students from economically disadvantaged backgrounds get into and graduate from top colleges equipped to achieve their full career potential. Thrive Scholars uses data to develop programming that translates to Scholar success through a full suite of academic preparation, mentorship, social-emotional, financial, and career counseling to close the opportunity gap.
SOURCE Thrive Scholars