52 students awarded Mitte Scholarships
Roy F. and Joann Cole Mitte have a vision to help colleges and universities build future leaders, not just academically, but in the community as well. That was the primary motivation behind the couple's establishment of the Mitte Foundation in 1997 and their recent gift of $8.2 million to The Smeal College of Business Administration.
Fifty-two current MBA and undergraduate students enrolled in Smeal College were notified this month that they are the first students at the University to each receive a $5,000 annual scholarship -- that may be renewed -- from the Texas-based Mitte Foundation. Twenty-three additional scholarships will be awarded to incoming undergraduate and MBA students over the next few weeks.
The gift will provide scholarships to 60 undergraduate and 15 MBA students each year over the course of 20 years.
The Mitte Foundation's primary mission is to enhance the future of the world through the development of outstanding business scholars, according to Scott Mitte, executive director of the Mitte Foundation. Nationally, the foundation expects to have 15,000 Mitte Scholars in the next 20 years.
The Mitte Foundation, based in Austin, Texas, has committed $45.1 million to cultural and educational programs since 1997, including gifts to universities such as Southwest Texas State University, Texas A&M University and The Ohio State University, and community programs such as Leadership Austin, Habitat for Humanity, the Rotary Club of Austin and the Lone Star Girl Scout Council.
Penn State was the first school the Mitte Foundation visited outside of Texas.
The gift enables the University to support especially talented students and prepare them to become community and business role models.
Recipients of Mitte Scholarships must participate in community service and maintain superior academic records each semester that they receive the award.
Both Mitte Undergraduate Scholars and Graduate Fellows may have their scholarships renewed each year if they continue to meet the academic and leadership criteria.