MRA begins scholarship competitionContinued from page 1 At least 12 scholarships will be awarded in the fourth
year of MRA's program to assist retailers and their employees and families.
To be eligible for an MRA scholarship, the student or
a parent must work at an MRA-member business. High school seniors and
college freshmen, sophomores and juniors may apply. Awards are $500 for community college students, $750 for
public college students and $1,000 for private college students. Recipients
are selected for their above-average academic performance and extracurricular
activities, which can include part-time employment. Financial need is
not a consideration. Recipients are selected by an independent panel of educators
chosen by Scholarship Program Administrators of Nashville, Tennessee,
which coordinates the application and selection process for MRA and many
other associations and companies. Although foundation assets continued to grow during the
past year, declining interest rates mean the amount of funds to be awarded
in the 2002-03 competition is about the same as last year's amount. "The scholarship funds come from the foundation's
interest earnings, and plummeting interest rates this year took a toll
on earnings," said Larry Meyer, MRA chairman and CEO. In order to continue aggressive growth in the scholarship
program,the MRA board has set a goal of increasing the assets of Michigan
Retailers Foundation to $1 million from the current level of approximately
$400,000. "The MRA scholarship program is a great way to support
young people in Michigan's retail community," said Meyer. "Our
goal is to increase both the number and size of the scholarships. The
Board of Directors encourages retailers to give to this worthwhile program." Donations to Michigan Retailers Foundation are tax deductible.
Contributors who donate or pledge $10,000 or more can have a permanent
scholarship established in their name. Members will receive detailed information about the scholarship
program by mail by February 1. Applications must be requested by March
15 and submitted by April 1. New this year is the ability to request an application online at www.scholarshipadministrators.net (the access code is MIRA) or through MRA's website at www.retailers.com. |
The
scholarships are funded by Michigan Retailers Foundation, a nonprofit
educational organization established by MRA.