HSBC First Opportunity Partner Scholars

What makes the HSBC First Opportunity Partner Scholars program so distinct is that it specifically targeted the most at-risk students – those with multiple at-risk factors.  The primary emphasis was not on high academic achievement although students were nominated by their institutions as students with promise and at least a 2.4 on a 4.0 scale after the first semester of the freshman year.  Among the at-risk factors that were considered were (1) financial need not able to be fully funded by their institution - that is, unmet need; (2) eligibility for a Federal Pell Grant; (3) large loans; (4) burdensome employment requirements limiting the student’s ability to be fully engaged in their educational experience; (5) challenging family factors such as lack of parental support, one- or no- parent family, parental unemployment or drug abuse; and (6) a first-generation student.

Campus financial aid directors were asked to nominate a student, because they know better than anyone the most at-risk students.  Nominated students then completed an application, and selections were made based on the criteria outlined above.

The simple hypothesis of the program is that $ 5,000 in “extra funding” (renewable for the junior and senior years, or $ 15,000 total), when added to other financial aid, and combined with the encouragement provided by winning a national scholarship, would make a significant difference in retention and degree completion.  

The results are most impressive:  in the third year of the program 17 of the 19 students are on track to graduation (89%) in the institution where they began their studies.  That is double the national average for degree completion in four years.   Further, in reading communications from these students, and comparing them to their initial applications, their growth in maturity and confidence, and their engagement in their educations, is truly remarkable.

HSBC-North America is to be commended for their visionary philanthropy.  Candidly, most scholarship donors want to aid those who have already proven exceptional merit; few are interested in funding those who are the most at-risk.

The success of the HSBC program has encouraged the Foundation to seek support from other corporations and foundations for what we are calling our 50-50 scholarship program in celebration of the Foundation’s 50th anniversary.  In this program we want to award a First Opportunity Partner scholarship to an at-risk student from each of the 50 states.