Morehouse College students who are the first in their families to pursue a higher education will soon receive financial support from Aaron's Inc., thanks to a new scholarship opportunity funded by the national lease-purchase retailer.
Aaron’s Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, and its divisions Aaron's and Progressive Leasing, recently launched the “Aaron’s Scholars Program” to make college more affordable for first generation college students.
The Aaron’s Scholars Program will be underwritten by a $1 million gift benefiting 20 students at Morehouse College through 2022. Each student in the program will receive a 3-year, $50,000 scholarship. The first series of scholarship recipients will be announced in late April at the annual E.B. Williams Awards Banquet. Students will be selected from Morehouse College’s three departments: Humanities, Business, and Science and Mathematics. The recipients will also be offered internships.
“It is heartwarming and inspiring to young men to be the first in their families to attend college, and Aaron’s is proud to assist them as they endeavor toward this high academic achievement at Morehouse,” said John Robinson, CEO of Aaron’s, Inc. “Morehouse College is a historic institution in our hometown of Atlanta and the Aaron’s Scholars Program is our way of giving back and advocating for our future community leaders.”
Morehouse President David A. Thomas said the College appreciates the support of corporate partners like Aaron’s that believe in Morehouse’s mission and unique space in developing global leaders.
“Morehouse College appreciates the $1 million contribution to support student scholarships,” Thomas said. “Aaron’s investment will be a great help to young men who dream of earning college degrees to uplift their families, impact their communities, and change their economic futures. I look forward to working with Aaron’s in this partnership and following the success of our Aaron’s Scholars.”
To qualify for the Aaron’s Scholars Program, students must maintain a 2.5 GPA, submit a letter of recommendation from a faculty advisor, and have received enough credit hours as a full-time student to be considered a second-year student.
“Nationwide trends show tuition and fees are rising at a faster rate than the financial aid and family income needed to cover costs, and Aaron’s is committed to helping highly qualified students who are the first to attend college in their families graduate with a bright future,” said Robinson.
Aaron’s has a long legacy of giving back to communities, a commitment that began with the Company’s founder Charlie Loudermilk 63 years ago. Today, Aaron’s is more committed than ever to improving the lives of young men and women who are college-bound and helping them “Own the Life They Want.”