CVS and UNCF Launch $5 Million Scholarship Program for Black and Latinx Students

It’s about time, but within the past year, seemingly more companies than ever are using their money to actively lift up communities of color. Lashify created an incubator and mentor program for Black businesses; brands like Anastasia Beverly Hills have pledged whopping amounts of money to Black-led organizations such as the NAACP Legal Defense and Education Fund; retailers Target and Sephora have both introduced more Black-owned brands on its shelves and made plans to highlight said brands in their stores. CVS/Pharmacy, where you likely stop for a lot of your hair, skin, and makeup needs, is the latest to join the movement.

CVS Health, the pharmacy’s parent company, has just established a five-year, $5 million scholarship program specifically for Black and Latinx students who are pursuing academic careers in health care. As a press release from CVS Health states, the program is a collaboration between its own organization, CVS Health Foundation, and the United Negro College Fund (UNCF). Two-year scholarships will be need-based and, according to the press release, “will support students in their junior and senior years as they complete their studies.”

Want to know if you’re eligible? According to CVS, the list of applicable college majors include pharmacy, nursing, business management, biology, biochemistry, finance, operations/supply chain, data analytics, information technology, actuary, and human resources.

Scholarships for Black and Latinx folks, especially in the medical field of study, can go a long way, according to the UNCF. 70 percent of African American freshmen who received a UNCF general scholarship graduated within six years, compared to only 38 percent of all African American students nationwide, according to the fund’s Frederick D. Patterson Research Institute. And students who receive a UNCF scholarship reportedly outperform the national population of students (regardless of race) in persistence through college and to graduation.

To learn more about eligibility and apply for a scholarship, visit https://uncf.org/scholarships. The fund will accept applications for the CVS Health Foundation Health Care Career Scholarship from February 1 through April 1, 2021. 

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