Allstate, Tom Joyner Foundation Unite to Fight a Trend: Runaway College Costs Forcing Students to Drop Out

NORTHBROOK, Ill., Aug. 17, 2011 /PRNewswire/ -- As education costs continue to rise and Congress considers deeper cuts to federal aid and loans, many college students face perhaps the toughest choice of their young lives: fight on or drop out. 

To increase the financial options available for students, Allstate has teamed up with The Tom Joyner Foundation to assist deserving students with scholarships through the third annual "Quotes for Education" (QFE) program. QFE continues Allstate's history of investing in initiatives that strengthen Historically Black Colleges and Universities (HBCUs). This year, the goal is to provide $200,000 for support of the HBCUs and the QFE program.

Allstate will donate $10 to The Tom Joyner Foundation for every insurance quote (auto, renters, homeowners and more), up to $200,000, received through December 31, 2011.

Supporting Quotes for Education is as simple as Click, Call or Quote:  

• Click - Go to www.allstate.com/quotesforeducation to find a participating Allstate agent near you or get a quote online
• Call - Allstate at 866-998-2188 to speak to an Allstate representative any time, day or night
• Quote - Receive any insurance quote from Allstate through December, 31, 2011

"Today's struggling economy and distressed job market make it more important than ever to secure a college education," said Tom Joyner, Founder of The Tom Joyner Foundation. "Our mission is to help young people get a college education and ultimately compete in this highly-demanding global workforce."

"In addition to supporting a trusted community partner like The Tom Joyner Foundation, we're also pleased that this program engages families and communities as part of the solution," said Kimberly Turner, marketing manager for Allstate. "By completing a quick, no-obligation auto, home, renters or life insurance quote, people can join with us in the effort to help keep the dream of a college education alive for hard-working students."

For students from families of limited means, earning a college education is an uphill battle. Consider these facts:

• Since the early 1980s, college tuition and fees have increased at four times the rate of inflation – even faster than skyrocketing healthcare expenses. ("Measuring Up 2008", National Center for Public Policy and Higher Education, 2008)
• After exhausting all sources of grant aid, the typical low-income student must come up with more than $11,000 a year to attend a public or private nonprofit college. (Education Trust analysis of NPSA, 2008)
• The disparity between upper and lower-income students is profound: more than 90 percent of high school students from families making more than $100,000 enroll in college, compared to 78 percent of students from families making $50,001 to $100,000, and 52 percent of students from families making $20,000 and less. (NASFAA, "Measuring Up 2008", National Center for Public Policy and Higher Education, 2008)

About Allstate

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer known for its "You're In Good Hands With Allstate®" slogan. Now celebrating its 80th anniversary as an insurer, Allstate is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.

About The Tom Joyner Foundation

The Tom Joyner Foundation's primary mission is helping to keep students enrolled in Historically Black Colleges & Universities (HBCUs). Since 1998, the foundation, chaired by nationally syndicated radio personality Tom Joyner, has raised more than $60 million to help keep students enrolled in black colleges, has assisted more than 14,000 students and worked with more than 100 HBCUs. Throughout the week, the Foundation announces scholarship winners on the nationally syndicated radio show hosted by its founder, Tom Joyner. Each week, separate financial awards are focused on students who are single parents and distinguished male students at each 'School of the Month'. The organization's largest annual fundraiser is its "Fantastic Voyage"™, which is a seven-day, six-night cruise that raises more than $1 million a year.

SOURCE The Allstate Corporation