Photo: Educational scholarship
Sixty percent of U.S. college students take out loans, and graduates leave school with an average of about $20,000 in debt, even as a college degree is recognized as essential for career success.
To help more students afford that all-important college degree, Massachusetts Mutual Life Insurance Company (MassMutual) announced today that the application period for its MassMutual Scholars program is now open for high achieving students of multicultural backgrounds interested in careers in the insurance and financial services industry.
Through this program, MassMutual will offer a total of $150,000 in scholarships—$5,000 scholarships to students attending four-year colleges and $2,500 scholarships to those attending two-year colleges.
Students of all majors are eligible who are of African-American, Asian/Pacific Islander or Hispanic descent and attending school in the United States. Applicants also must meet certain academic criteria, such as maintaining a 3.0 or better GPA, express interest in financial services and insurance careers and demonstrate financial need.
The MassMutual Scholars program is just one of many initiatives that are part of the company’s Community Responsibility agenda, which provided over $7 million in charitable contributions in 2012. In addition to national scholarships, the Career Pathways Program supports eligible high school and college students in Hampden, Mass. and Hartford, Ct. counties through scholarships, internships and experiential learning opportunities focused on careers in financial services.
The application deadline for the MassMutual Scholars Program is May 3, 2013, and winners will be notified in late summer.
- Open to students of African American, Asian/Pacific Islander or Hispanic descent.
- Must show proof of U.S. citizenship or legal permanent residency with a permanent resident card or passport stamped I-551 (not expired).
- Have a minimum cumulative grade point average (GPA) of 3.0 on a 4.0 scale.
- Plan to attend a degree-seeking program, full-time at a U.S. accredited institution in the U.S., Puerto Rico, U.S. Virgin Islands or Guam during the 2013-2014 academic year.
- Will be entering sophomore, junior, senior or 5th-year senior year in pursuit of an undergraduate degree at an accredited college or university.
- Students of all majors will be considered. Preference will be given to students who demonstrate:
- An interest in pursuing a career in the insurance and financial services industry.
- Leadership and participation in extracurricular activities.
- Must apply for federal financial aid by completing the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
- Selected students attending accredited 2 year and 4 year colleges/universities will be awarded $2,500 or $5,000 respectively.
- A total of $150,000 in scholarships will be awarded for the 2013-14 school year.
For more information on how to apply or to obtain an application, visit www.act.org/massmutual.