MassMutual Awards $135,000 in Scholarships

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Nov 14, 2011

(Springfield, MA)- Massachusetts Mutual Life Insurance Company (MassMutual) has awarded $135,000 in college scholarships to students of African American/Black, Asian/Pacific Islander and Hispanic descent, who reside or plan to attend college in nine metropolitan areas across the United States.

Through its MassMutual Scholars Program, the company will help 27 high achieving college students from diverse backgrounds pursue their higher education dreams.

According to MassMutual’s recent State of the American Family Study*, multicultural participants placed a higher value on college education, with 70 percent indicating that a college degree is required these days to get a decent paying job (vs. 64 percent of all participants and 61 percent of Caucasian participants), and 77 percent expect their children to get at least a bachelor’s degree (vs. 72 percent of all participants and 70 percent of Caucasian participants).

Alyssa H. Chen, a student at the University of Denver who would like to become a financial planner, says her scholarship “is not only an additional means of funding for my education, it is easing the financial burden on me and my family during a time of hardship.”

Student applicants were evaluated on their academic performance and commitment, as well as a personal essay where many shared poignant stories about their desires to achieve a degree and their need for assistance.

Chen’s application touched on her experience in working in her family’s restaurant, which helped her to realize the value of financial literacy. “Over the years, I have developed a strong interest in financial services. Sadly enough, this interest sparked as I saw the loved ones around me suffer with their own poor financial planning,” said Chen. “I realized I cannot allow myself to fall in that same cycle, and moreover, hope that I can prevent many others from doing the same.”

Scholarships of up to $5,000 were awarded to three students in each of the following metropolitan areas: San Francisco, Los Angeles, San Antonio, Houston, Denver, Atlanta, New Jersey, Chicago, and Miami.

The MassMutual Scholars Program was open to students who met certain academic criteria, including a 3.0 or better grade point average. They also had to show interest in pursuing a career in the insurance or financial services industry.

“I’d like to congratulate all of this year’s MassMutual Scholars,” said Nick Fyntrilakis, Assistant Vice President of Community Responsibility at MassMutual. “In these challenging times, it is rewarding to know that we are able to continue to offer financial assistance to students who are diligently working towards achieving their dreams.”

• View a list of the winners (PDF).

To learn more about MassMutual’s Scholarship program visitwww.massmutual.com/education.

*The second nationwide study in Massachusetts Mutual Life Insurance Company’s State of the American Family, conducted by Forbes Consulting Group, Feb. 2011.

About MassMutual

Founded in 1851, MassMutual is a leading mutuallife insurance companythat is run for the benefit of its members and participating policyholders. The company has a long history offinancial strengthand strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. Withwhole life insuranceas its foundation, MassMutual provides products to help meet the financial needs of clients, such aslife insurance,disability income insurance,long term care insurance,retirement/401(k) plan services, andannuities. 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, MemberFINRAandSIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

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