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Chime Scholars Foundation

About Chime Scholars Foundation

The Chime Scholars Foundation helps everyday people build a better future through higher education.

Chime was founded with the underlying belief that everyone should have the ability to create a better future for themselves. We live in a country with a shrinking middle class and an increasing economic divide between our highest earners and those who are financially insecure.

As we think about the best way to close this economic divide, the most powerful engine for economic mobility is higher education. People with a higher education earn nearly 2x as much over their lifetime than high school graduates and are half as likely to be unemployed.1,2

The Problem

The problem is that our system of higher education is broken. Despite having some of the best colleges and universities in the world, these schools are in large part financially out of reach to the majority of Americans. And it’s having a profound impact on the attitudes towards college and whether parents and kids view it as an empowering force for someone’s future.

In fact, 75% of adults do not believe college is affordable for most people.³ And nearly 50% of students say cost is the biggest barrier.4 At the same time, over the past several decades, confidence in pursuing a higher education has also waned. Among Gen Z, 45% said a high school diploma/GED is sufficient to ensure financial security.5

Chime Scholars Foundation

The Chime Scholars Foundation (CSF) is a non-profit organization that awards annual, renewable scholarships of up to $5,000 to low-income students. This initiative is personal for Chime’s co-founder & CEO Chris Britt, who benefitted from both tuition assistance and community support in his educational journey. 

We believe three things make our scholarship program unique:

All types of higher ed programs. We recognize four-year college isn’t for everyone (in fact, we’re active proponents that it shouldn’t be for everyone). That’s why CSF is designed for anyone with the drive and grit to pursue additional education, whether it’s a university, community college, transfer program, vocational training, or trade school.

All kinds of students. We didn’t design CSF for your typical star student – those kids often receive more support from the colleges they attend and are twice as likely to receive a scholarship.6 CSF is for kids who yearn for something more in life, but just need a little extra financial help.

Partnership approach. We know that students need support in addition to scholarships to graduate. We partner directly with schools and community organizations to help our scholars overcome the many personal and institutional obstacles they may face when striving for their graduation goals. For low-income students, challenges from family responsibilities to navigating various course and program requirements can be especially complicated. Studies show that providing this extra, non-financial, support is key to staying in school and graduating within six years.7

Learn more about CSF from Chime CEO Chris Britt.

Impact

As part of our pilot program, CSF has already awarded more than 350 scholarships. For the 2023-2024 school year, we are proud to support 250 Chime Scholars enrolled in 82 higher-education institutions across the country. 

Meet Chime Scholars

Chime Scholar Spotlight: Lisbeth Lomeli

“I feel a lot of pressure to succeed and at the same time I have other family duties. The Chime scholarship has helped me work less and focus more on my school work.”  

  • Goal: NICU nurse
  • School: University of Texas at Arlington
  • Major and Graduation Year: Nursing, 2025
  • CSF Scholar Cohort(s): 2022-2023 & 2023-2024
  • Support Partner: ScholarShot

Chime Scholar Spotlight: Joseph Carranco

“One of the biggest challenges I’ve had to overcome is finances… Thank you Chime Scholars Foundation for helping me pursue my path and degree.”

  • Goal: Meterologist
  • School: Dallas CC and Texas A&M Corpus Christi
  • Major and Graduation Year: BS Environmental Science, 2025
  • CSF Scholar Cohort(s): 2022-2023 & 2023-2024
  • Support Partner: ScholarShot

Meet Our Partners

KIPP: Metro Atlanta Schools

beyond 12

Oakland Promise

The Opportunity Network

 

Scholar Shot

Rivet School

 

The Biz StoopThe Memorial FoundationU Aspire

Thurgood Marshall College Fund

Hispanic Association of Colleges and UniversitiesThe University of Texas at Dallas

Columbus State Foundataion

 

 

In the News

November 30, 2023 – Bloomberg Businessweek: Chime Funding Education featuring Chris Britt, Chime CEO and co-founder

November 28, 2023 – Introducing the Chime Scholars Foundation: Chime pledges 1% of equity to fund higher education opportunities for everyday Americans by Chris Britt, Chime CEO and co-founder

October 30, 2023 – Chime Scholars Foundation wins the University of Texas at Dallas 2023 LEAD Corporate Award 

May 12, 2023 – Transfer Students Receive Boost from Chime Scholars Foundation by Daniel Steele, Director of Development Communications at the University of Texas at Dallas.

How to Apply

We’d love to be a part of your educational journey. Learn more about how the Chime Scholars Foundation can help you, read up on program eligibility requirements, and apply today at the Chime Scholars Foundation website.

If you are with a school or organization interested in learning more about partnering with the Chime Scholars Foundation, please reach out to us at support@chimescholars.org.

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1 Georgetown University

2 APLU

3 Morning Consult Pro

4 Cengage Group

5 New America Survey

6 Research.com private scholarships for students 3.5 to 4.0 unweighted GPA

7 National Bureau of Economic Research Working Paper No. w28046

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