FOR IMMEDIATE RELEASE
FROM: Nancy Gardner (206) 543-2580
nancylou@u.washington.edu

DATE: June 20, 2005

The University of Washington has become one of the nation's only colleges to create an endowed scholarship for master's of business administration students of Latin American heritage who pursue careers in business and economic development. Through the use of private donations earmarked for the purpose of promoting diversity, the UW Business School has created a new scholarship program. No state or other public funds are involved in this program. The fund will serve to promote the University’s interest in achieving diversity in its MBA program where Latinos are dramatically under-represented.

The $150,000 Ernest I. J. Aguilar Endowed Scholarship will be announced at the Business and Economic Development Program’s 10th Anniversary Celebration tonight. This endowed scholarship honors a man who has dedicated significant time and effort toward the development of Hispanic communities within the state of Washington.

Ernest Ignacio Jose "Ernie" Aguilar, born in Mexico City in 1919, is a charter member of the Washington State Commission on Hispanic Affairs, the founder and chairman emeritus of the Washington State Hispanic Chamber of Commerce, and founding chairman of the board for the Farm Workers’ Clinic, located in central Washington's Yakima Valley. He was awarded the Ohtli Medal, Mexico’s highest civilian honor in recognition of his work.

"We all have a responsibility to help our students succeed," said Aguilar. "This scholarship provides financial support to students of Latino American heritage who will be our future leaders and community activists. It is also an acknowledgement of their value and is important to this university."

The scholarships will be awarded for the first time in the 2006-07 academic year to students of Latin American descent in the UW’s MBA program. Selected graduate students enrolled in the UW Business School's Business and Economic Development Program (BEDP) and who are United States citizens or residents will receive $7,500 per year. The scholarship recipients will participate in a BEDP initiative to grow Hispanic and Latino businesses in Washington state. The scholarship will help cover tuition and fees, books and other educational expenses.

"The number of Hispanics in any given year who apply to an MBA program is relatively small," said James Jiambalvo, dean of the UW Business School. "The UW has a highly competitive MBA program and the Ernest Aguilar Endowed Scholarship will be a critical factor in our ability to successfully recruit these tremendously talented Latino students."