The corporation is currently investing in over 500 students’ education
Lockheed Martin received more than 6,000 applications and is awarding 199 new STEM scholarships and 150 vocational scholarships with nearly $5 million in scholarship funding.
“This pioneering vocational scholarship program proves that Lockheed Martin is fully committed to preparing workers at every level for the competitive challenges of the modern global economy,” said Lockheed Martin Chairman, president, and CEO Marillyn Hewson. “In the face of the COVID-19 pandemic, we recognize the urgent need for leadership. Developing the next generation of workers in science, technology, engineering, and math is one of the most important ways to expand opportunity and lay the groundwork for a brighter future.”
A first of its kind in the United States aerospace and defense industry, the vocational scholarship is geared towards individuals with a high school degree or GED equivalent with less than a bachelor’s degree, and will fund degrees at accredited vocational-technical schools to prepare students for careers in technology and advanced manufacturing. The program is awarding 150 recipients this year with a $6,600 stipend.
For a second year in a row, the corporation’s four-year STEM Scholarship program is focused on high school seniors and undergraduate students who plan to pursue a major in engineering or computer science, demonstrate financial need and come from underrepresented or underserved communities. Today, the program is awarding an additional 199 scholarships worth $10,000 in renewable funds per student. Scholars will continue to demonstrate eligibility before the beginning of the 2020 Fall semester.
Lockheed Martin awarded 544 scholarships for both programs in 2020 which includes 195 returning year 2 STEM scholars.
Both programs are funded by proceeds from corporate tax reform and are part of a larger investment of $460 million by Lockheed Martin in education and innovation over a period of five years. The scholarships are one piece of Lockheed Martin's 2018 pledge to create 8,000 new workforce development opportunities and invest $50 million in educational enrichment programs. The programs are being administered by Scholarship America, an organization with more than 60 years of experience designing and managing scholarship programs.