API Journal Authors: Derek Weeks, Elizabeth White, Yeshim Deniz, Liz McMillan, Dana Gardner

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+.

Karen Lavariere-Sanchez
[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
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...