Buick and the General Motors Foundation announced the $4.5 million-a-year Buick Achievers Scholarship Program to recognize and reward 1,100 college-bound students nationwide who excel both in the classroom and in the community.
What distinguishes the Buick Achievers scholarships is that they are renewable for four years, which could bring the total individual scholarship to as much as $100,000. The GM Foundation plans to start a new group of 100 students on renewable scholarships of up to $25,000 each year.
Buick Achievers, designed to inspire, celebrate, and enable human achievement, also will provide 1,000 students with $2,000 scholarships renewable for up to four years. Majors covered include science, technology, engineering, mathematics, design, marketing and business administration. All told, the foundation’s annual funding could reach $18 million annually after four years.
“As a company, and as a nation, we have a responsibility to support opportunities for higher education,” said Dan Akerson, GM Chairman and Chief Executive Officer. “The Buick Achievers scholarship will help foster the next generation of leaders destined to develop future innovative solutions to global issues.”
According to the College Board, college tuitions rose at least 6 percent last year, making it increasingly difficult for students to pay for their education. The Buick Achievers Scholarship Program was developed to help address this need.
To be eligible for the Buick Achievers scholarship, applicants must be high school seniors or high school graduates entering college for the first time in the fall of 2011; plan to enroll in full-time undergraduate study at an accredited four-year college or university for the entire 2011-12 academic year; and demonstrate an interest in the automotive industry. Applicants must be U.S. citizens and have permanent residence in the United States. Applications will be accepted through March 31, and scholarships will be awarded for the 2011-2012 academic year.