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New York Life Foundation Invests Over $265,000 In Hispanic Scholarship Fund Outreach Programs

A Three–Year Grant Funds Expansion of College Awareness Programs to Hispanic Students and Families

SAN FRANCISCO, CA, December 13, 2006 — The Hispanic Scholarship Fund (HSF), the nation’s leading organization supporting Hispanic higher education, announced today that it was awarded a three-year $265,000 grant from the New York Life Foundation to fund college awareness outreach programs in the Latino community.

The grant supports seven Town Hall meetings and eight “Steps for Success Saturdays” workshops in existing HSF target markets, including Atlanta, Dallas, New York City and Tampa. The funding also brings these HSF programs to new locations, including El Paso, Ft. Lauderdale, San Antonio, Rio Grande Valley, Minneapolis and Westchester County, New York.

“We are extremely grateful to the New York Life Foundation for recognizing that an investment in Hispanic youth pays measurable returns for America,” said Christopher E. Jones, HSF chief operating officer. “The HSF/New York Life Foundation Outreach Program will help us in our mission to break the cycle of under-education in the Hispanic community by continuing to increase the number of students entering the college pipeline.”

“We are pleased to build on our successful partnership with HSF and help provide the tools and resources that enable Hispanic students to make informed decisions about furthering their education,” said Peter Bushyeager, president of the New York Life Foundation. “These programs teach students and their families how to prepare for and finance higher education, and increase the likelihood that more Hispanic students will pursue a college career.”

HSF Town Hall meetings are two-hour comprehensive, bilingual, multimedia sessions where students and their families learn how to ensure that students are on the college track and learn about the resources that are available to them for funding their education. HSF “Steps for Success” workshops are daylong of hands-on specialized instruction and college preparation workshops for high school students and their parents. Activities include intensive instruction on how to fill out applications, apply for financial aid, and find a college suited to a student’s educational background and interests. Last year, the Hispanic Scholarship Fund was awarded a one-year, $205,000 grant from the New York Life Foundation to fund seven Town Hall meetings and five “Steps for Success” workshops in Atlanta, Dallas, New York City, Yonkers and Tampa. These programs reached approximately 2,300 parents and students.

About the Hispanic Scholarship Fund

The Hispanic Scholarship Fund (HSF) is the nation’s leading organization supporting Hispanic higher education. Founded in 1975 as a 501(c) (3) not-for-profit organization, HSF’s vision is to strengthen the country by advancing college education among Hispanic Americans. In support of its mission to double the rate of Hispanics earning college degrees, HSF provides the Latino community more college scholarships and educational outreach support than any other organization in the country. In its 31-year history, HSF has awarded more than 78,000 scholarships totaling $195 million to Latinos attending more than 1,700 colleges and universities. For more information about HSF, please visit www.hsf.net.

About the New York Life Foundation

The New York Life Foundation is the major vehicle through which New York Life Insurance Company channels contributions to national and local nonprofit organizations. Through its Nurturing the Children initiative, the Foundation supports organizations, programs and services that target young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement opportunities. Please visit the Foundation’s Web site at www.newyorklifefoundation.org.

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New York Life Foundation Invests Over $265,000 In Hispanic Scholarship Fund Outreach Programs

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