FSCNY Now Accepting Applications for its Annual Scholarship Program

Since 1996, 220 Students from Throughout the NYC Metro Area
Have Received $486,000 in Scholarships from FSCNY

NEW YORK, NY, March 16, 2010 -- Financial Service Centers of New York (FSCNY) is now accepting applications for its annual scholarship program, run in partnership with MoneyGram International and with the generous support of its members.  The FSCNY/MoneyGram International Scholarship Program recognizes New York City area high school students for their academic achievements and community service. Since the program’s inception in 1996, the scholarship program has helped 220 deserving students attend Ivy League and other selective universities and colleges.  In total, $468,000 in college scholarships has been awarded.

Now in its 15th year, FSCNY awards one-time cash grants to New York State high school seniors who meet the following selection criteria:

  • Commitment to community service
  • Perseverance in the face of significant obstacles
  • Display leadership skills in school
  • Academic achievement

Every year, FSCNY selects 5 First place award winners that receive a minimum cash award in the amount of $4,000 towards the cost of their freshman year of study at an accredited two or four-year college or university.  5 Second place award winners receive a minimum of $2,000.  5 Third place award winners will receive a minimum of $500.  This year, once again, FSCNY and MoneyGram International will also select one Grand Prize winner to receive a one-time award of at least $7,500 towards the cost of college and a computer system.  To learn more about the program or to obtain an application, please visit www.fscny.org.  The deadline for filing an application is March 26, 2010.

“The FSCNY/MoneyGram International Scholarship Program is a wonderful way for students pursuing higher education to receive some financial assistance,” said Sanford Herman, FSCNY Scholarship Committee Chairman.  “Over the years, we have recognized some of New York’s “best and brightest”, and we want to again be
a resource to help them achieve their academic dreams.”

About FSCNY

The Financial Service Centers of New York is the industry’s leading voice on legislative, regulatory and business issues and the leading advocate for the rights
of consumers to access basic financial services in New York.  FSCNY represents approximately 660 check cashing centers, which employ nearly 4,000 New York residents.  FSCNY members annually cash more than 30 million checks with a face value in excess of $16.76 billion.  New York has the second-lowest check cashing
fee in the nation at 1.83%.

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