Entrepreneurs

Target Adds $10K Scholarship Extensions to HBCU Scholars Program

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Minnesota-based retail giant Target is sticking to their promise to promote racial equality, as well as collaborate and invest in Black-owned businesses. 

In 2021, the popular retailer announced a partnership with the United Negro College Fund to financially support 1,000 students studying technology, design, and leadership, exclusively at HBCUs. Now that the Target Scholars’ freshman year is over, Target has upped the ante by adding an additional $10,000 extension to each scholarship recipient for their college career, along with supplemental resources.

“Target is continuing our longstanding work to invest in and accelerate the next generation of Black talent,” vice president of talent acquisition Damu McCoy said in the press release. “The Target Scholars program is one example of that overall commitment, providing both financial support and the mentorship and networking resources to further strengthen students’ experiences and help them reach their career destination.”

Each Target scholar is to receive $10,000 of additional aid over the span of their upcoming next three years of school. Mentorship, coaching, and internships will also be available to the students. Also, should a student need to transfer schools, Target will be there to ensure they remain part of the Target HBCU scholars program. 

The extension was made possible by Target’s longstanding relationship with UNCF, fueled by the 2020 creation of Racial Equity Action and Change committee, which aims to invest over $2 billion in Black-owned businesses by the end of 2025.

“Working closely with UNCF, our partner of more than 20 years, we’ve designed the next chapter of Target Scholars to serve them even better in the coming years as they complete their degrees. It’s a true example of our Target Forward vision in action as we work to co-create an equitable future together with our guests, partners and communities,” reads the release. 

“We believe that HBCUs provide a critical role in supporting and developing Black talent. And our partnerships with HBCUs help us ensure that Black guests see themselves represented in Target’s products, marketing, and teams — now and into the future.”





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