In honor of Hispanic Heritage Month, Hostos proudly announces the creation of the Aspira-Wright Endowed STEM Scholarship, the largest in its history, to support underserved students pursuing careers in Science, Technology, Engineering, and Math.

“To say that my heart is dancing is an understatement. On behalf of the entire Hostos community, I want to express our most profound gratitude to Aspira Capital and the Wright Foundation for their incredible generosity and for their clear-eyed vision,” said Hostos President, Dr. Daisy Cocco De Filippis. “Through this gift, we can see that they truly understand the power of philanthropy to effect meaningful change in society and in the lives of real people. By supporting, in perpetuity, our students pursuing STEM degrees, they are also investing in the future, not only of our College and our community, but in the ability of this nation to maintain its leadership in science and technology during a time of explosive growth.” Then, addressing Mr. Lorenzo directly, President Cocco De Filippis welled up with emotion. “Mr. Benny Lorenzo, what a role model you are for our students in so many ways. Paying it forward, coming to give back to the community with your funds, your time, your mentoring, and your sharing of aspirations for our students. This really means the world to me.”

Benny Lorenzo, Managing Partner at Aspira Capital Management, gave heartfelt remarks about the importance of education.

Mr. Lorenzo then took the podium and invoked the cherished memory of his mother, who had graduated from community college at age 59 and always stressed the importance of education, “a lesson that I have never forgotten.” He went on to explain why he and Mr. Wright had chosen to support STEM programs at Hostos. “ The US produces 800K STEM graduates per year, or just 20% of our total graduates. In contrast, among the top three countries for STEM education, 40% of all graduates are in a STEM field. Women, in particular, are significantly underrepresented in STEM. This is a problem that we need to solve locally to maintain our technological leadership in an artificial intelligence-driven world. But, while talent is equally distributed, resources, opportunities, and prospects are not. Community college students are highly motivated, and they really appreciate the opportunity to learn. Peter and I both feel that community colleges are an undervalued asset and the greatest need for our investment was here. We considered many institutions and a thorough vetting process, and we felt that the Hostos student body, consisting of 53% Latinos, 35% Black students, and nearly 70% female students, best matched the underrepresented cohort we wanted to address.”

Mr. Lorenzo then introduced Cira Angeles, CEO of LA Riverside Brokerage and HCC Foundation Board Member, who has long championed the College and had encouraged him to make the gift. “Benny Lorenzo and Peter Wright graciously set an example of leveraging their success to ‘pay it forward’… to help others and transform individuals, families and communities. After all, success is measured not in how much money you make but in the positive difference you make in others’ lives and future generations.

Yassine Gaye, ’23; Prof. Yoel Rodriguez; and Kevin Dillon ’24 spoke about their experiences in the STEM program at Hostos.

The event continued with remarks from Dr. Yoel Rodriguez, Chair of Natural Sciences Department and testimony from Hostos alumni, Yassine Gaye ’23 and Kevin Dillon ’24, who both graduated in STEM fields.They both are now pursuing higher degrees at Princeton University and The City College of New York respectively and embody the promise of the new scholarship.

Finally, CUNY Chancellor Félix Matos Rodríguez got up to thank the donors. “Thank you to Benny and Peter for this incredible contribution to the family here at Hostos. There is no better testimony to the transformative work that we do here at Hostos than hearing those wonderful testimonies from the students and the lives that get changed here with the incredible work of our great faculty and staff. I have no doubt that this endowment gift will continue to transform lives.” He then surprised the attendees by announcing, with a delighted President Cocco De Filippis at his side, that his office was providing a $250,000 matching gift. “It’s a sign that we want to be supportive of the hard work that is being done in philanthropy, and supportive of our students, and showing that we want more individuals and corporations supporting the work that we do at Hostos. So I'm delighted that we were able to do that, and may this be the sign of many more to come,” he added.

Hostos President Daisy Cocco De Filippis and CUNY Chancellor Félix Matos Rodríguez announced a matching gift.

The Aspira-Wright Scholarship was designed to benefit STEM majors for several reasons. First, the Scholarship’s creators, Mr. Lorenzo and Mr. Wright, are graduates of Cornell University’s Engineering Program. They also received MBAs from Harvard and Cornell University respectively. They are living proof that engineering degrees contribute specialized knowledge that can dramatically enhance one’s career trajectory whether in financial services, technology, healthcare, or many other fields. They also echo the sentiments expressed by leaders around the world that STEM builds talents in problem-solving, collaboration, and innovation, and will drive economic growth in the future. They believe that STEM education will be useful in securing many types of high-paying, in-demand jobs of the future and facilitate socioeconomic mobility for STEM majors, their families and their communities.  

The million-dollar collaboration between Lorenzo and Wright to drive the future success of Hostos students is a testament to the value of a Hostos education and the power of social impact investing to provide opportunity to all students and particularly traditionally underserved groups. It will help uplift Hispanic, Black, and other historically poor and disadvantaged members of society which comprise at least 95% of Hostos’ student body (53% Latino, 35% Black, 70% female). It also signals to individuals and organizations wanting to effect positive change in minority communities that the diverse, talented and motivated students who seek education at the College are valuable assets to the nation’s workforce and are worthy of philanthropic support and mentoring. Furthermore, by making the gift during Hispanic Heritage Month, Mr Lorenzo hopes to inspire other Latino donors to support the College and the diverse community it serves.

Over the years, with the help of several million dollars in National Science Foundation (NSF) grants, Hostos has developed several initiatives to address accessibility challenges and promote the advancement of students in STEM programs. These efforts include a Joint Dual (JD) Engineering Degree Program with the City College of New York’s Grove School of Engineering (GSoE), made possible by a $1 million earmark sponsored by Congressman Ritchie Torres and supported by Congressman Adriano Espaillat, through which qualified students may seamlessly transfer to GSoE to complete their B.S. degrees. In addition to this pathway, the Aspira-Wright Scholarship will not only enhance the College’s outstanding reputation as a leader in providing STEM education in the South Bronx, but it will also inspire students’ ongoing academic excellence and transfers to bachelor’s programs at GSoE, Cornell University, Princeton University, Manhattan College, New Mexico Tech, and other prestigious institutions that have admitted Hostos STEM alumni in recent years. It will help students graduate with lower debt and clear their path to further academic achievement, career growth, and socioeconomic prosperity. 

The Aspira-Wright Scholarship application process at Hostos will help to identify students open to mentorship and participation in a support network led by Mr. Lorenzo and other Hispanic professionals who have succeeded in STEM fields despite the systemic obstacles traditionally faced by students of color. Mr. Lorenzo, an immigrant from the Dominican Republic, recalls moving to New York City at the age of ten without knowing any English.  “I benefited from a hard-working mother who brought me to the States, a nun in middle school who took me under her wing, an ivy league education, and a Wall Street career where I was often the only person of color. All these experiences have taught me many lessons that I hope to impart on the next generation.” Furthering that belief, Mr. Lorenzo’s capital investment firm takes its social impact focus seriously, boasting a 30+ year history of generating above-market returns in technology-oriented equity markets as well as in its more recent focus on early-stage investment in underrepresented founders. He seeks investors who share his desire to uplift minority and female entrepreneurs and give back a percentage of realized profits (10%) to educational institutions in historically underserved communities. 

Prof. Yoel Rodríguez, HCC Foundation Chair José Sánchez Kinghorn, Benny Lorenzo, and Cira Angeles with Hostos STEM students and alumni. 

Mr. Lorenzo and Mr. Wright aspire that this scholarship and its mentorship component will reinforce the ties between the recipients and the Hostos community well into the future and galvanize a cultural ethos of “paying it forward” among Hostos graduates. For his part, Mr. Lorenzo, reflecting on the impact of the scholarship, emphasized the transformative power of education in uplifting marginalized communities, stating, “Investing in education is the best way to empower and develop the potential of the Hispanic/Latino community and other traditionally underserved groups. I hope this scholarship will inspire more Latinos/Latinas and others to give generously to the Hostos community and thereby uplift underrepresented people of the region over time. I wish for it to inspire greater philanthropy among all who value social justice and want to help close the opportunity gap in our society.”

Hostos Community College is deeply grateful to Mr. Lorenzo and Mr. Wright for their belief in Hostos students and for creating this transformational Scholarship, an enduring partnership, and an extraordinary legacy of generosity and foresight in the South Bronx.