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Making Waves and Chime Partner on Scholarships and Coaching for Community College Students

Making Waves Education Foundation » News Stories » Making Waves and Chime Partner on Scholarships and Coaching for Community College Students

Making Waves Education Foundation is partnering with the Chime Scholars Foundation to support local community college students from low-income backgrounds. The Chime Scholars Foundation is part of Chime, a financial technology company headquartered in San Francisco. 

Through the funding from the Chime Scholars Foundation, five Making Waves Academy graduates who are a part of Making Waves’ college and career success program have been named Chime Scholars. In addition to funding for college-related expenses, they’ll have a support system as a part of both Making Waves and Chime. 

Through Making Waves, students are paired with college coaches, financial coordinators, and career specialists. And through the Chime Scholars Foundation, they’ll have access to financial education and in-person and virtual networking events.  

Congrats to the Making Waves + Chime Scholars! 

Maylin smiling in Contra Costa County shirt

“I aspire to be a nurse to make a difference in people’s lives every day.”

– Maylin Martinez 

Economic mobility through higher education 

“Higher education is one of the most powerful levers for young people to grow their skills, gain networks, reach their career goals – and ultimately achieve economic mobility,” shared Patrick O’Donnell, CEO of Making Waves Education Foundation. 

Research from Georgetown University shows that college graduates earn 84% more over their lifetimes than those with only a high school diploma. The APLU reports median lifetime earnings as being $1.2 million higher for those with bachelor’s degrees. 

But there are inequities.

Research from the Pell Institute shows that only 16% of students from lowest-income families have earned a bachelor’s degree by age 24, compared to 58% of students from the highest-income families. 

“This partnership is exciting because both Making Waves Education Foundation and Chime Scholars Foundation are committed to supporting young people in overcoming barriers and creating a better future for themselves,” shared Allison Holton, chief external affairs officer at Making Waves. 

Specialized support for pathways for community college students 

The path from community college to a four-year university isn’t always easy.

Data from CalMatters shows that an average of only nearly 10% of California community college students who wanted to transfer did in fact enroll at a four-year university. This is why Making Waves provides a team of coaches to support students in navigating academics, financial aid, and career options. 

More specifically, this new partnership with the Chime Scholars Foundation supports several pilots Making Waves has underway for community college students. This includes a focus on creating more belonging directly on community college campuses through group coaching and more efficient funding for expenses like books and transportation through digital payments.

“We are incredibly proud to have Joselyn, Sofia, Maylin, Emily, and Andrew as part of our community,” shared Dr. Kristina Wright (she/her), VP of student success at Making Waves Education Foundation.

“This achievement is a testament to their hard work, commitment to their education, and passion for building a brighter future.”  

“Making Waves provides a supportive and stimulating environment where students can be vulnerable, seek support, and set goals that support them in achieving their life dreams,” she shared.

“We can’t wait to partner with Chime to support students with all the amazing things they will accomplish in the future.” 

About Making Waves 

Making Waves is committed to equity – with students from 5th grade to college and career. Making Waves Education Foundation is a Bay Area nonprofit that supports Making Waves Academy – a public charter school with more than 1,100 5th through 12th grade students – and leads college and career programming with more than 430 college students.  

Centering historically underrepresented and underserved students and their college and career journeys, Making Waves helps make college affordable and graduation attainable. We partner with students to meet their dreams with personalized support – including college and career coaching, scholarships, and college financial planning. Our alumni network includes more than 730 college graduates, who earn their degrees and land jobs at more than twice the rate of their peers, with 85% graduating from college debt-free. 

About Chime 

Chime is a financial technology company founded on the premise that basic banking services should be helpful, easy, and free. Chime aims to profit with consumers not from them and has a business model that doesn’t rely on consumer fees such as overdraft, monthly service, or minimum balance fees. For additional information: www.chime.com

About Chime Scholars Foundation 

Chime was founded to improve financial services for everyday people. Our idea was simple. If we could reduce stress around money, our members would have a better chance to thrive and live better lives. 

In 2023, Chime took another step to help unlock financial progress with the launch of the Chime Scholars Foundation (CSF). CSF funds college and other post-secondary programs for those with a passion to pursue a brighter future through higher education. Our scholarships are designed to lend a hand to ambitious, everyday people so they can pursue careers without the heavy debt burden facing so many graduates.

Chime Scholars are awarded up to $20,000 in scholarships and become part of the Chime Scholar community with access to career and networking resources.

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