Scholarship Support for Students in the Face of Skyrocketing Debt

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It has been found that sixty percent of college students in the United States take out student loans. The graduates leave their school with about $20,000 debt on an average even though college degree is very important for attaining success in career. Massachusetts Mutual Life Insurance Company (MassMutual) has declared that the application period for its MassMutual Scholars program is open for the students who are highly talented and have multicultural background with interest in career in the insurance and financial sector.

With this program, MassMutual will provide $150,000 in scholarships in total. The program will offer $5,000 scholarships to the students who are attending their four-year college degree and $2,500 scholarships to the ones who are attending two-year college degree.

Students of all majors are entitled such as Asian/Pacific Islander, African-American or Hispanic descent and who have attended school in the United States. The applicants also should fulfill some academic criteria such as upholding a 3.0 or better GPA, showing interest in financial services, making careers in insurance and revealing their financial requirement.

Mr. Clemons supports the students to take advantage of all the supplies available to them, part-time job, in-state tuition, federal funding and the availability of scholarships. This will help them complete school and get hold of a college degree. Besides this, in acknowledgment of the financial confronts that the fresh graduates and young professionals face, MassMutual came forth in the New Year with launching a Facebook-centric movement. This will help the millennial generation talk about student loan debt. The members were invited to discuss how they want to repay their student debt. In this, one participant will be given reward up to $20,000 to pay off the outstanding loan.

The Vice President of Community Responsibility at MassMutual, Nick Fyntrilakis has said that one amongst five families has student loan debt. MassMutual Scholars program helps provide financial support to the students who come from different background. Other than this, they also help them accomplish their dream of getting a college degree.

The MassMutual Scholars program is one amongst several programs that are a part of the company’s Community Responsibility agenda. It offers more than $7 million in charitable donations. Apart from national scholarships, the Career Pathways Program supports the qualified high school and college students through internships, scholarships and practical learning opportunities that are centered on careers in financial services. MassMutual has also offered more than $640 million in free term life insurance coverage to appropriate working families. This has been planned to protect the educational objectives of the children.

The time limit of the application for MassMutual Scholars Program is May 3, 2013, and the winners will be informed in the late summer.

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