More than 500 high school students will receive $1,000 checks from Wells Fargo as part of the lender’s CollegeSTEPS sweepstakes—a part of the CollegeSTEPS program, which provides college planning and money management tips.
Elibible high school students who signed up for the program between April 1 and June 30 were automatically enrolled in the sweepstakes, and 520 will receive checks.
“There is still a great deal of education that needs to take place about financial planning and how to navigate available federal and private financing options,” John Rasmussen, the head of Wells Fargo Education Financial Services, said. “With more students registering each year for CollegeSTEPS to receive information on how to prepare for college, we are being sent a clear message that today’s students want to be smart about their finances and their future.”
The CollegeSTEPS sweepstakes can help students to cover school-related expenses, such as books, computers and lab fees. Wells Fargo has awarded more than $1 million to students through the sweepstakes. Last year, the lender’s community contributions towards 8,000 educational programs in the U.S. totaled $75.7 million, and its team members donated a matched $19.3 million to educational programs.
Wells Fargo, which is headquartered in San Francisco, provides banking, insurance, mortgage investments and consumer finance through over 9,000 locations and 12,000 ATMs. It has offices in over 35 countries.