Bank of America has contributed $400,000 to UNLV to establish a scholarship endowment and a scholarship fund for minority students majoring in business administration.
The goal of the scholarship program is to increase the number of minority students studying business and subsequently increase the pool of qualified minority graduates who will enter the banking industry, according to Bank of America officials.
The donation, which was made through the UNLV Foundation, will be used to create the Bank of America Nevada Scholarship Endowment for the College of Business and Economics and the Bank of America Scholarship Fund.
Up to 25 scholarship awards of $2,000 each will be made annually to full-time undergraduate or graduate business administration majors in the College of Business and Economics. Applicants must be minority students who can demonstrate financial need, have a minimum GPA of 2.75, and are Nevada residents; preference will be given to students from Southern Nevada. Applicants must have also completed their first year of college and demonstrated involvement in educational and community programs.
"We are proud to join with UNLV in offering this scholarship program to minority students who otherwise would not be able to afford a college education," said BofA Nevada Chairman and CEO Richard A. Etter. "This scholarship program, however, is more than just providing students with financial assistance. It's about providing them with hands-on training and skills that go beyond the classroom."
In addition to the scholarship program, Etter said the bank will be setting up internships and mentoring programs that will further bridge the gap between the classroom and workplace. The goal of these programs, he added, is to teach people how to fish rather than just giving them fish.
"We can no longer rely entirely on our state and federal government to provide young people with the education they need to compete on a global level," Etter said. "It is up to the private sector to develop working partnerships with secondary and higher education institutions to provide students with the resources and tools they need to succeed beyond high school and college."
"UNLV is very committed to the support of minority students," said UNLV interim President Kenny Guinn. "This scholarship will certainly enhance the opportunity for minority business students, and the university is grateful to Bank of America for making it possible."
Ted Cummings, interim dean of the College of Business and Economics, believes this scholarship program will help the college meet its objectives for achieving diversity in the student body.
"The scholarships will help in preparing minority students to enter the business community in both banking and entrepreneurial efforts and, hence, will have a lasting impact in the Las Vegas community," Cummings said. "We are pleased to be a partner with Bank of America in this effort."
This year 13 awards have already been made. Current recipients (see attached profiles) are Leeman Abdulai, Jennifer Brekke, Sandra Johnson, Nichole Lovely, Anna Manrique, Starla McFarling, Laura Nevarez, Bret Prescott, Carmen Robles, Bernadette Roldan, Ramiro Santos Jr., David "Jason" Westbay, and Roger Wong.
UNLV business administration majors have a number of areas of study from which to choose, including accounting, economics, finance, management, marketing, human resources management, real estate studies, public administration, and management information systems.