M&T Bank is the latest partner in Washington College’s new initiative to improve college access to first-generation students. The college is in Chestertown, MD.
With its $160,000 gift—a commitment of $40,000 over four years—M&T Bank will help funding for George’s Brigade top $3.97 million in less than a year.
“Giving back to the communities it serves is one of the many ways in which M&T Bank defines itself and its role,” says College President Sheila Bair. “With this commitment to George’s Brigade, the bank is taking direct action to support students in the communities it serves. Because of M&T’s generosity, high-achieving students will have access to a top quality liberal arts education at Washington College and will be able to secure a degree virtually debt free. We’re grateful to have M&T Bank’s support in creating opportunities for these students to achieve, grow, and succeed.”
Over the past decade, M&T Bank has supplied more than $182 million in charitable contributions, while its employees gave their time to 5,101 not-for-profits in 2015.
“Supporting quality education is a key part of M&T’s commitment to strengthening the communities we serve,” said Nick Lambrow, Regional President of M&T Bank. “George’s Brigade is an investment in the future because it provides college opportunities to promising students of low and moderate-income families.”
George’s Brigade is one of Bair’s first initiatives to improve college accessibility and tackle the problems of high student loan debt and college affordability. Through George’s Brigade, high-performing, first-generation students whose families would otherwise not have the resources to pay for a private liberal arts education will have their full financial need met, including room and board.
If students wish to borrow for incidental expenses, the program requires that they limit their loans to $2,500 per year.
George’s Brigade will also let students apply to Washington College and be admitted in groups from the same community or school so that they have companions to share their transition to college life. The initiative includes special programming, events, mentoring, and career counseling for the enrolled students.
Washington College provides more than $23 million in grants and scholarships, with 90 percent of students receiving merit-based scholarships or need-based financial aid.
Founded in 1782, Washington College is the tenth oldest college in the nation. It enrolls approximately 1,450 undergraduates from more than 35 states and 40 nations.
