POHNPEI, FSM – On August 13, 2016, the FSM Petroleum Corporation (FSMPC) and the Rotary Club of Pohnpei (RCP) signed a historic agreement to establish and manage a scholarship fund for FSM students.
FSMPC has partnered with the RCP since 2013, where the company has provided about 50% of the funding that the Club distributes annually to students throughout the FSM. Scholarship granting is one of the pillar programs of the RCP.
The FSMPC Board has followed the distribution of scholarships since 2013 and agreed the time was right for a more formal relationship and the establishment of a larger fund through an MOU.
The MOU establishes a Vital-Rotary Scholarship Fund in the amount of $25,000 and will provide between five and ten students in FSM with scholarships of $2,500-$5,000 per year toward their studies.
Students who access the scholarship will also be eligible for summer internships with FSMPC.
The Pohnpei Rotary Club will work closely with state and national scholarship committees to leverage funding sources.
More information on eligibility and application dates and other details shall be forthcoming.