Welcome!

API Journal Authors: Elizabeth White, Kevin Benedict, Anders Wallgren, Amit Golander, Jerome McFarland

News Feed Item

As Student Debt Skyrockets to $1 Trillion, MassMutual Supports African American Students through Scholarship Programs

Application is now available until May 3

SPRINGFIELD, Mass., Feb. 26, 2013 /PRNewswire/ -- 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.

(Photo:  http://photos.prnewswire.com/prnh/20130226/NY66308-INFO-a )
(Photo:  http://photos.prnewswire.com/prnh/20130226/NY66312 )

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.

"I always knew I would be going to college to have a good career with a high earning potential," said Jeffery Clemons, who heads up MassMutual's Nevada Agency in Las Vegas., "but even with GI Bill funds from my time in the air force, I needed to work two jobs to pay for school."

Mr. Clemons encourages students to take full advantage of all resources available to them, federal funding, part-time work, in-state tuition and the growing availability of corporate scholarships, to help them finish school and obtain a college degree. "It's well worth the cost," he pointed out, "my time, connections and experiences at UNLV are the reason I am where I am today."

Also in recognition of the financial challenges that new graduates and young professionals face, MassMutual kicked off the New Year with the launch of a Facebook-centric campaign to help the Millennial generation address the issue of student loan debt. Participants were invited to share how they plan to pay down their student debt on facebook.com/massmutual, and one participant will be rewarded up to $20,000 to pay down outstanding loans. The grand prize winner will be announced in mid-March.

"One in five households has student debt in this country*, and the issue is receiving growing attention," said Nick Fyntrilakis, Vice President of Community Responsibility at MassMutual. "Our MassMutual Scholars program helps provide financial support to students of diverse backgrounds, helping them achieve their dreams of obtaining a college degree."

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.

MassMutual also has provided more than $640 million in free term life insurance coverage to eligible working families across the country, as part of its unique LifeBridgeSM Free Life Insurance Program, designed to help protect children's educational aspirations.

The application deadline for the MassMutual Scholars Program is May 3, 2013, and winners will be notified in late summer.

Eligibility Criteria:

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.

*Pew Research Center. Tabulations of Survey of Consumer Finances Data (2012). A Record One-in-Five Households Now Owe Student Loan Debt. 26 Sept., 2012.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube and Google+.

MEDIA CONTACT:
Karen Lavariere-Sanchez
413.744.7660
[email protected]

SOURCE MassMutual

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.