WELLESLEY, Mass., Dec. 1, 2016 /PRNewswire-USNewswire/ -- Babson College, the top-ranked college in the United States for the study of entrepreneurship, and Junior Achievement USA®, the country's leading organization giving young people the knowledge and skills to own their economic success, have partnered to offer a $20,000 per year merit scholarship for a Junior Achievement (JA) USA student who attends Babson. According to research (pdf), JA alumni are two and one-half times more likely to become an entrepreneur when compared to the general population.
The new scholarship program was recently celebrated in Atlanta, Georgia, at a Junior Achievement leadership event held at the JA Discovery Center. "Entrepreneurship is a driver of innovation and job growth and is critical to our future, so it's essential that we help young people better understand how it works and how they can become entrepreneurs," said Jack Kosakowski, president and CEO of Junior Achievement USA. "We greatly appreciate Babson College's commitment to helping Junior Achievement students achieve their dreams through the power of entrepreneurship." "We are pleased to partner with a world-class organization such as Junior Achievement that shares our vision and desire to educate entrepreneurial leaders who create great economic and social value—everywhere," said Babson President Kerry Healey, who recently joined the Junior Achievement USA Board of Directors. The Babson College Junior Achievement Scholarship amounts to $20,000 per year for four years. Students enrolling in Babson in fall 2017 are eligible; in order to apply, applicants will have until February 1, 2017, to submit an essay about "What does Junior Achievement mean to you and how will you apply your Junior Achievement experience while at Babson?" This aid will be beneficial to JA students who, like many college students, use loans to finance their education. Federal government data find that Babson College undergraduates who receive financial aid enjoy career success during their earning lifetime. According to the 2016 U.S. Department of Education College Scorecard, Babson College undergraduate alumni enjoy median salary earnings of approximately $86,700 10 years after entering college. This is more than double the national average of $33,800 according to the College Scorecard and places Babson College at the top among elite college and universities in the United States. About Junior Achievement USA® Junior Achievement is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness, and entrepreneurship.