GMAC FINANCIAL SERVICES, HISPANIC SCHOLARSHIP FUND PARTNER TO CREATE BOOK SCHOLARSHIP PROGAM
Grant helps Latino college students with cost of supplies
San Francisco, CA October 2008 - The Hispanic Scholarship Fund (HSF), the nation's preeminent Latino scholarship organization supporting Hispanic higher education, received a $40,000 grant from GMAC Financial Services, establishing the HSF/GMAC SmartEdge Book Scholarship Program.
The HSF/GMAC SmartEdge Book Scholarship Program was created to help Hispanic college students purchase textbooks. In the 2008 school year, the average estimated costs for books and supplies for undergraduate students at both public and private four-year institutions was $988.
This book scholarship program is available to undergraduate Latino students who are studying business or business-related majors, urban studies/planning and/or education.
“Lack of funding is one of the biggest obstacles in obtaining a college degree and GMAC is proud to partner with HSF to provide Latino college students with book scholarships,” said GMAC Financial Services Chief Executive Officer Alvaro G. De Molina. “GMAC hopes this collaboration will provide the necessary assistance to help students succeed academically.”
GMAC is devoted to financial education through its SmartEdge program, which includes book scholarships, seminars, online efforts and community outreach. SmartEdge provides the tools and information needed to make educated financial decisions. GMAC invites students to complete the SmartEdge online financial education certificate program at www.SmartEdgebyGMAC.com.
“We are excited to launch the HSF/ GMAC SmartEdge Book Scholarship Program, which will give more Hispanics the opportunity to pursue their dreams of earning college degrees,” said Frank D. Alvarez, HSF President & CEO.
Research shows America’s ability to remain competitive in the global economy hinges on producing more college graduates. With Hispanics now representing 15.1 percent of the total U.S. population, and a majority of the student enrollment in many major metropolitan school districts, these much-needed college graduates will be largely Latino. With the appropriate guidance, support and/or financial assistance, HSF and GMAC believe many more students will have the encouragement and motivation to finish their degrees.
About GMAC Financial Services
GMAC Financial Services (GMAC) is a global finance company operating in and servicing North America, Europe, Australia and Asia Pacific. GMAC specializes in automotive finance, real estate finance, commercial finance, insurance and online banking. Visit the GMAC media site at www.gmacfs.mediaroom.com for more information.