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February 24, 2022

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EAB, Bank of America working to advance student, institutional success

Education firm EAB announced today that Tuskegee University, Harris-Stowe State University, and LeMoyne-Owen College have joined the Way Forward Initiative, a multiyear collaboration between EAB and Bank of America to support historically Black colleges and universities (HBCUs). The work is made possible through funding provided by Bank of America as part of the bank’s $1.25 billion, five-year commitment to advance racial equality and economic opportunity.

“Despite their vital role in creating opportunities for students and communities of color, many HBCUs face daunting financial pressures caused in large part by a historical lack of support from federal and state governments,” said EAB Chief Partner Officer, Sally Amoruso. “EAB is proud to partner with Bank of America to provide data, insight, and advice to help propel HBCUs and their students into a brighter future.”

EAB and Bank of America established the Way Forward Initiative in 2021 in partnership with an initial cohort of five HBCUs working together to advance their institutional goals. Schools in the program have a dedicated EAB support team and access to EAB’s Global Research Partnership. They receive leadership training, on-demand market research, and opportunities to collaborate with peer institutions. EAB’s support team guides them through opportunity assessments and tactical changes designed to improve student retention and graduation rates, financial stability, and operational efficiency.

“Education is one of the most powerful tools available to address economic and social inequality,” said Ebony Thomas, Racial Equality and Economic Opportunity Initiatives executive for Bank of America. “The Way Forward Initiative is focused on advancing student and institutional success by providing advisory services to help schools set strategic priorities, establish goals for long-term financial sustainability, and accelerate their progress toward those goals.”

Tuskegee University, Alabama; Harris-Stowe State University, Missouri; and LeMoyne-Owen College, Tennessee join the 2021 inaugural cohort of five HBCUs, which includes Central State University, Ohio; Huston-Tillotson University, Texas; Claflin University, South Carolina; Savannah State University, Georgia; and Virginia Union University, Virginia.

“Our work with EAB and Bank of America has already been extremely beneficial in the preparations for our upcoming accreditation review,” said Harris-Stowe State University Interim Provost Edward Hill. “The services and support provided through the Way Forward Initiative have also helped us to better inform and engage all critical stakeholders.”

Through the Way Forward Initiative, EAB has also recently begun to provide research, insights, and advisory services to all 37 Tribal Colleges in the United States in cooperation with the American Indian Higher Education Consortium.

About EAB

At EAB, our mission is to make education smarter and our communities stronger. We work with more than 2,500 institutions to drive transformative change through data-driven insights and best-in-class capabilities. From kindergarten to college to career, EAB partners with leaders and practitioners to accelerate progress and drive results across five major areas: enrollment, student success, institutional strategy, data analytics, and diversity, equity, and inclusion (DEI). We work with each partner differently, tailoring our portfolio of research, technology, and marketing and enrollment solutions to meet the unique needs of every leadership team, as well as the students and employees they serve. Learn more at eab.com.

About Bank of America

At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

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