JACKSON, Miss. (WJTV) – According to Jackson State University (JSU), Origin Bank has created a $40,000 endowed scholarship to support students at the university. Two students will be awarded $1,000 each annually. Funds for eligible students can be used to pay for tuition, textbooks, supplies and other fees in the cost of education.
Larry Ratzlaff, state president for Origin Bank, said, “It’s a tremendous privilege for me to be able to represent our organization today. We want to serve our communities, customers and employees equally. We understand the importance of serving our communities, which include universities, customers and employees. That’s why we are donating $40,000.”
According to the university, the fund will exist in perpetuity with a portion of the annual earnings being made available for scholarship awards annually. Once the principal amount is invested for a full 12 months, the scholarship will be eligible to be awarded if the market value of the fund exceeds the principal.
“I know this is a great investment for our university, and we’re really excited about it,” Acting President Thomas Hudson said. “It is an investment in our students and will ultimately contribute to the momentum that we already have here at Jackson State.”
Additionally, the principal amount will be eligible for a dollar-for-dollar match (contingent on funds availability) through the University’s Title III matching funds program.
To be eligible for the scholarship(s), students must meet the following criteria:
- Must be a full-time undergraduate student majoring in Business Administration at Jackson State University
- Must be classified as a sophomore or junior
- Must maintain a 3.0 GPA or higher
- Must demonstrate financial need