Boston University students will soon have the opportunity to participate in new global programs and on-campus activities as a result of a renewed agreement with Santander Bank, one of the largest retail banks in the United States.
Through the Santander University Global Division, the bank will support a Kenya field practice program for students within the School of Public Health, scholarships for Latin American and low-income students and a summer internship for sophomores, according to a Thursday press release.
“By supporting international study programs, we are helping prepare students to become global citizens and future leaders,” said Nancy Orlando, a spokeswoman for Santander Bank, in an email. “We decided to expand to an internship program which aligns with both Santander and BU’s vision of giving students hands on experience in the workplace.”
Santander began its relationship with BU in 2010 by supporting the SPH Consortium, which has given 45 students the chance to study and research abroad, said Joseph Anzalone, senior manager of academic programs in the Department of Global Health at SPH.
“Santander Universities filled an important need of SPH students by providing for travel and living expenses so that students could undertake compelling public health field activities, particularly in low-resource settings,” he said in an email. “Over the last four years, Santander funds have supported more than 180 SPH students to intern with 58 organizations in 34 countries.”
As a global institution, Santander may have found BU an attractive partner because of its international population, said Jeffrey Furman, a professor of strategy and innovation in the School of Management.
“If the bank is looking for students who are global in their orientation, this is a very good place to look for them,” he said. “It would be financially irresponsible for the bank and its shareholders if this were a pure money operation, so it often has some benefits for the bank related to talent acquisition and public image.”
Partnerships with corporations and organizations such as Santander are a good way to give students a sense of the professional world and what their lives will be like after graduation, Furman said.
“As the competitive landscape for universities changes, being able to offer practical experiences will be quite differentiating from those who are doing standard things,” he said. “Once all education is online, experiences that aren’t available for the online format are going to help differentiate universities.”
Several students said they appreciate Santander’s commitment and look forward to the new programs that will be established.
Rachel Carforo, a senior in Sargent College of Health and Rehabilitation Sciences, said she was surprised to hear about Santander’s relationship with BU.
“You usually think of bankers as big faceless corporations,” she said. “When they give back to the community, it makes me think differently of them. They have the money to do it, so it’s nice that they’re helping students here at BU out. A partnership between Santander and BU sounds beneficial if it doesn’t involve the bank trying to over advertise itself.”
Melika Mai, a freshman in the School of Hospitality Administration, said while the programs Santander supports are beneficial for students, she remains skeptical of the bank’s motivations.
“I know of companies who have provided something like housing or tuition for students and want them to go back to the company and work because there was some sort of commitment promised,” she said. “It’s hard to understand because there has to be a reason why the bank is doing this other than simply having these programs.”
Adelaide Billy, a sophomore in SMG, said she finds Santander’s mission genuine and a great way to have an impact on the community.
“As a business, everything they do is motivated to make a profit,” she said. “That isn’t necessarily bad if they’re doing something good like these programs. I like that it isn’t just a publicity stunt but a chance to help students think globally and be successful leaders.”
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