When I saw the news about George Floyd’s death, my immediate thought was, “How did this happen again?” The saddest word in that sentence is “again.”

At Ascent, data is the foundation for making decisions. The data on racism in our country is difficult to refute. Arrests, incarceration, police violence and sentencing are all worse for Black people. In the world of higher education and finance, there is troubling data with low Black representation across every department at all levels. Sadly, there is a low percentage of Black students attending college and their graduation rates are lower. Furthermore, upon graduation, starting salaries on average are lower.

Both former President Obama and Governor Schwarzenegger share similar perspectives on racism even with their dissimilar backgrounds. If we don’t show up and raise our voice, racial inequality in our country will not be adequately addressed. Solving this problem will take time and involve many groups working toward a common goal. One of those groups are companies and their leaders.

I believe we need to work together to fight racism in ways that the government will not have the will or the skill to confront. Here’s how Ascent is taking action:

• Matching employee contributions to organizations fighting racism like NAACP Legal Defense and Educational Fund
• Dedicating scholarships to students that are making a difference in fighting racism and impacting positive social change (see our recent scholarship)
• Creating more internship opportunities that further increase diversity
• Continuing to incorporate student feedback into the benefits we offer

We believe actions speak louder than words… and our actions are getting louder. It doesn’t end here. We’re here to listen, learn and continue to fight together.

Respectfully,

Ken Ruggiero
CEO and Chairman
Ascent Student Loans