Graduate and undergraduate students enrolled in the Smeal School of Business Administration at Penn State University will get scholarships for the next two decades, thanks to an $8.2 million gift from the Texas-based Mitte Foundation.
The gift will fund scholarships for 60 undergraduate and 15 graduate students each year for the 20 years. Each Mitte Scholar will receive a $5,000 scholarship, which may be renewed annually.
Scholarship recipients must maintain a 3.5 cumulative grade point average and participate in community service in order to qualify for an annual renewal.
The Smeal College will award the first Mitte Scholarships for fall 2001.