A new program could help Latino business students pay for their graduate education.
The Hispanic Scholarship Fund, in conjunction with the National Society of Hispanic MBAs, recently announced they will award new scholarships for Latino graduate students pursuing management or business degrees.
The scholarship amounts range from $2,500 to $10,000 and are funded through corporate and private donations, as well as community fundraising. Corporate donors include AT’T, Coca-Cola and Pfizer.
To be considered for the scholarship, students must be of Hispanic origin, legal residents or citizens of the United States and be accepted for the fall 2001 semester in a graduate program at an accredited university.
Students must also demonstrate financial need and academic ability. Those already enrolled in graduate school must have at least a 3.0 cumulative GPA to be eligible for the award.
Desiree Fernandez, a spokeswoman for the Hispanic Scholarship Fund, said while the graduate scholarships are new this year, the Fund has a long history.
“HSF has been giving scholarships for 25 years,” she said. “It is a very established program.”
The Hispanic Scholarship Fund was established by Ernesto Roblas, a California educator, and Archbishop Patrick Flores, of San Antonio, Texas. Both of them, Fernandez said, “decided we needed financial assistance for Hispanics.”
The Fund gave out $30,000 in 1975, its first year of operation, she said.
Over the years, the Fund has even attracted the attention of celebrities.
“We’ve had help from [comedians] Cheech Marin and Paul Rodriguez,” Fernandez said. “And athletes Rebecca Lobo of the New York Liberty [WNBA team] and Jeff Garcia of the San Francisco 49ers lend their images for our promotional material.”
The Fund is the largest Hispanic scholarship organization in the nation, granting over $58 million in scholarships since its inception to students in the United States and Puerto Rico.
Teaming up with the Hispanic MBAs to create the scholarships was a logical step, Fernandez said.
“NSHMBA has a good base of members nationwide,” she said. “It is a good way to reach more students.”
Henry Hernandez, who sought to increase Hispanic visibility in the business world, founded the Hispanic MBAs in 1988 in Los Angeles. The organization now has over 2,600 members.
According to the Hispanic MBAs’ website, the group now seeks “to be the premier
Hispanic MBA professional business network for economic and philanthropic advancement.”
The scholarship awards will be presented by the Hispanic MBAs in San Antonio, during their annual conference in November. Fernandez said she expects about 200 scholarships to be awarded with most in the $2,500 range and one $10,000 winner.
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