PEPSICO KICKS OFF YEAR TWO OF COMMUNITY COLLEGE PROGRAM SUPPORTING BLACK AND HISPANIC STUDENTS

PURCHASE, N.Y., Jan. 18, 2022 /PRNewswire/ -- Today, PepsiCo and The PepsiCo Foundation announce year two of the company's Community College Program S.M.I.L.E. (Success Matters in Life & Education) Scholarship, providing vital support to Black and Hispanic students transitioning from select community colleges to four-year institutions. Following the success and achievements of the inaugural scholarship recipients, PepsiCo is excited to extend this opportunity to a new group of phenomenal students and remains committed to addressing systemic barriers to educational access faced by Black and Hispanic communities. The program provides up to $50,000 over two years for tuition and eligible living expenses, professional mentorship opportunities from PepsiCo employees, and financial wellness courses for each recipient. Eligible students enrolled at City Colleges of Chicago, Westchester Community College, and Dallas Collegecan apply here through February 28, 2022.

"We're proud of the achievements of our inaugural S.M.I.L.E. Scholars and excited to re-up this program for a second year and expand our support to more brilliant minds," said C.D. Glin, Global Head of Philanthropy, PepsiCo & Vice President, The PepsiCo Foundation. "While two-year programs can be an on-ramp to higher education, financial barriers and historic inequity have made it difficult for many students of color to take the next step in their educational journey – transitioning to four-year universities."

The pandemic has disproportionately exacerbated education disparities for Black and Hispanic students, especially in graduation rates. According to a 2021 report, white students at public colleges are 250% more likely than Black students and 60% more likely than Latino students to graduate. Additionally, while the pandemic undermined transfer mobility across the country, Black students were hit especially hard, with transfers from community colleges to four-year institutions falling more than 6%. PepsiCo's program promotes access and advancement through a holistic approach that offers not only financial support to help students at the point of college entry but addresses the additional obstacles – retention, completion, and workforce readiness – that disproportionately impact these students' educational and professional journeys.

"The S.M.I.L.E. Scholarship provided by PepsiCo and The PepsiCo Foundation was a real game-changer for me. It gave me one thing that I didn't have before – options. It also gave me financial freedom. I wish every community college student were able to pick their dream school without financial restrictions but, that's simply not the case." said Tiffany Patton, 2021 S.M.I.L.E. Scholarship recipient from Westchester Community College and current student at Baruch College. 

The S.M.I.L.E. Scholarship  is a key component of The PepsiCo Foundation's $40 million Community College Program, which is dedicated to closing the education and achievement gap for historically excluded communities. In the program's inaugural year, the scholarship enabled 25 students to enroll and remain at some of the nation's top academic institutions, including Columbia University, Fordham University, the University of Illinois at Urbana-Champaign, the University of Texas at Austin and Baruch College. In addition to helping students in the transition to four-year colleges, the Community College Program also provides scholarships and resources to students seeking associate degrees or trade certificates at 20 community colleges across the country. It aims to support 4,000 Black and Hispanic students over five years.

The PepsiCo Foundation's Community College Program is a cornerstone effort of PepsiCo's more than $570 million Racial Equality Journey, a comprehensive initiative to support Black and Hispanic communities, people, and businesses. Key components of the initiative include Pepsi Dig In, a multi-faceted platform that encourages consumers to support Black-owned restaurants; the Black Restaurants Deliver program, a no-cost service that helps owners boost online ordering and delivery capabilities; The PepsiCo Foundation's Black Restaurant Accelerator, a $10 million program with the National Urban League to provide support to 500 Black-owned restaurants around the U.S. over five years; and Doritos SOLID BLACK™, a $5 million multi-platform initiative designed to bolster the voices of Black innovators and creators. 

Similarly, PepsiCo recently launched Juntos Crecemos, a $50 million platform to strengthen Hispanic-owned businesses over the next five years, with a key part of that platform being The PepsiCo Foundation's IMPACTO Hispanic Business Accelerator, which is providing $10 million in funding to 500 Hispanic small food and beverage business owners in 13 U.S. cities. PepsiCo's global commitment to advance food security through collaboration in communities where we live and work, Food For Good, also provides jobs and nutritious food access for Black and Hispanic communities.

More information about PepsiCo's Racial Equality Journey can be found online at www.pepsico.com/about/diversity-equity-and-inclusion.

About PepsiCo 
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.com.

About The PepsiCo Foundation 
Established in 1962, The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with a mission to support thriving communities. Working with non-profits and experts around the globe, we're focused on helping communities obtain access to food security, safe water and economic opportunity. We strive for tangible impact in the places where we live and work—collaborating with industry peers, local and international organizations, and our employees to affect large-scale change on the issues that matter to us and are of global importance. Learn more at www.pepsico.com/sustainability/philanthropy.

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SOURCE PepsiCo Foundation