Preschool Promise Inc. Receives $390,000 from KeyBank to Address Early Educators Workforce Crisis

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Grant funds will help cover up to $5,000 in tuition costs each semester to help educators earn a credential or degree

NORTHAMPTON, MA / ACCESSWIRE / November 11, 2024 / KeyBank and the KeyBank Foundation announced an investment of $390,000 in Dayton's Preschool Promise Inc. to boost its Promise Scholars program.

The Promise Scholars program specifically helps early childhood educators employed at a Preschool Promise partner site earn degrees and credentials in early childhood education and graduate debt-free. The program was established in 2022 to tackle the crisis in the early educator workforce and improve the quality of instruction in early learning classrooms. It was created in response to concerns raised by local partners about childcare and preschool programs having to close classrooms due to a lack of qualified teachers.

Using grant funds for the next four years, Preschool Promise will cover up to $5,000 in tuition each semester to help educators earn a credential or degree. The program also assists with covering the cost of tuition and books as needed for each teacher and can provide tutoring and accountability to help them stay enrolled and pursue degree completion.

"We are thrilled to partner with the KeyBank Foundation to expand educational opportunities through our Promise Scholars program," said Robyn Lightcap, Executive Director of Preschool Promise. "This funding will enable us to support Early Childhood Educators in returning to school to earn their degrees, while also creating pathways for young learners interested in the field through internships and hands-on experience. Investing in highly qualified teachers is essential, as we know that learning begins at birth, and skilled educators play a vital role in every child's growth and lifelong success."

The following three strategies will be developed and implemented to support the next phase of the Scholars program:

High School Pathway: Preschool Promise will create stronger pathways from middle school to high school to early learning programs. The organization will build on the relationships they already have with high school Teacher Prep Academies to create job shadowing and internship experiences for high school students.
Registered Apprenticeship: They will work closely with local community colleges to create a Registered Apprenticeship program for an associate degree in early childhood education, to allow the organization to tap into funding streams that are exclusively for registered apprenticeships.
Workforce Development Funding: The nonprofit will also leverage government funding streams that can be utilized to support early childhood education workforce development, such as the Workforce Innovation and Opportunity Act (WIOA), or funding for Youth Development, such as the YouthWorks program in Montgomery County. There are barriers to accessing these funding streams that need to be addressed to fully utilize the funding.

"At KeyBank, we are committed to investing in our communities and supporting those who educate and nurture the next generation," said Jeff Bardonaro, KeyBank Dayton Market President. "By helping early childhood educators advance their careers and addressing the workforce crisis in early education, we aim to make a lasting impact on the Dayton area. This partnership with Preschool Promise Inc. aligns with our dedication to creating opportunities that empower individuals and strengthen our community."

The organization will also provide computers to students who do not have access to technology. This is especially helpful for first-generation college students; older students starting college for the first time or returning after a long break; or students who grew up in families experiencing poverty, this individualized attention is critical to their success.

ABOUT KEYCORP

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

ABOUT PRESCHOOL PROMISE INC.

Preschool Promise aims to ensure every child in Montgomery County, Ohio is ready for Kindergarten. Our mission is to partner with families, providers, and community leaders to offer high-quality early childhood experiences from prenatal to age 5. Research shows that the first five years are critical for developing language, literacy, math, and social skills, especially in a supportive, high-quality environment. Our goal is for all families, regardless of race, income, or geography, to access the early education resources their children need to thrive.

We work with over 100 partner preschools, offering sliding-scale tuition assistance, and providing teachers and administrators with professional development. Preschool Promise also supports educators in earning credentials and degrees debt-free and works to improve wages in the field.

Recently, we have expanded to support children from birth to age 3, increasing access to home visiting, parenting support, and early intervention services. We're committed to equity, focusing resources on young children with the highest needs and advocating for the best outcomes for all young learners.