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New York Life Grants $550,000 To Support Educational Enhancement Programs In Alaska

Grants to The University of Alaska, Fairbanks and Alaska Pacific University Allow Additional Students to Participate in Specialized College Preparatory Programs

NEW YORK, N.Y., January 29, 2009 – In its continued effort to support nonprofit organizations targeting young people, particularly in the areas of mentoring, safe places to learn and grow, and educational enhancement, New York Life Insurance Company announced two grants totaling $550,000 to support educational enhancement programs administered by the University of Alaska, Fairbanks (UAF) and Alaska Pacific University (APU).

“These scholarship funds, generously provided by New York Life, will allow many distinguished Alaskan students to attend the Early Honors Program who would not otherwise be able to afford it,” said Dr. Douglas M. North, president, Alaska Pacific University. “This will benefit the entire Anchorage community because the extraordinary opportunity offered by Early Honors will now be more accessible to all.”

“UAF’s Alaska Summer Research Academy (ASRA) and the Rural Alaska Honors Institute (RAHI) are meaningful programs that open up doors for Alaska's young people,” said UA President Mark Hamilton. “Generosity from private companies like New York Life is incredibly important to our university system. We're not only grateful, but honored, that New York Life has chosen to donate to our programs.”

“This is a wonderful opportunity for New York Life to support programs for students who might not otherwise be able to learn in a college setting,” said Chris Park, vice president of corporate responsibility, New York Life.

The two-year, $100,000 grant made to APU will support their Early Honors Program, which helps gifted high school students complete their senior year of high school and freshman year of college simultaneously and even provides an opportunity for them to study abroad. The 45 current participants come from throughout south central Alaska. Sixteen percent of the students are ethnically diverse, and APU has set a goal to more than double that rate to 34 percent.

The New York Life Early Honors Scholarship Fund will help APU draw a larger number of high potential, low income/disadvantaged and ethnically and geographically diverse students, who will be called the New York Life Learners. The Fund will provide four full scholarships, or a larger number of partial ones.

New York Life’s three-year, $450,000 grant to the UAF will support ASRA and RAHI, two programs for high school students.

Introduced in 2001, ASRA provides an intensive, two-week residential learning experience for 8th to 12th graders who have an interest in science, engineering or liberal arts, emphasizing the importance of a college education. It has served 418 students to date.

RAHI helps ease the academic and social transition between high school and college. Students live on the Fairbanks campus for six weeks in the summer, taking courses and experiencing life in a college setting while earning between seven and 10 college credits for their work. Forty to fifty students participate each summer. RAHI was created in collaboration with the Alaska Federation of Natives in 1983 to prepare rural and Alaska Native high school students for college.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investment Management LLC provides institutional asset management, retirement plan and trust services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Please visit New York Life’s Web site at www.newyorklife.com for more information. For information about the University of Alaska, Fairbanks, visit www.alaska.edu and www.alaskapacific.edu for information about Alaska Pacific University.

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New York Life Grants $550,000 To Support Educational Enhancement Programs In Alaska

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