Raytheon Adds 30 $20,000 Awards to MathMovesU Scholarship Program

Raytheon Company (NYSE: RTN) has revised its popular MathMovesU scholarship and grants program to invest more substantially in students already committed to studying science, technology, engineering or math (STEM). Under the restructured plan, students who have already won a MathMovesU scholarship are eligible to win one of 30 additional $20,000 merit-based bonus awards if they major in a STEM field at an accredited college.

A second change redirects the $1,000 awards available to 150 middle school students. They now have the option to attend math and science summer camps or programs across the country, or save the money for college. Raytheon will also continue to donate a $1,000 matching grant to each winning student’s middle school. The objective is to nurture and encourage the next generation of U.S. innovators by harnessing the power of technology and showing them that math and science are at the very core of invention.

Raytheon’s successful math heroes’ awards program is unchanged under the new plan. Nominated math teachers or volunteers will still be eligible to receive $2,500 awards with a further $2,500 matching grant given to their school or math program.

“We wanted to make a greater impact and be part of the solution,” said Kristin Hilf, vice president of public affairs for Raytheon Company. “By encouraging discovery and rewarding commitment, we hope to help replenish the country’s STEM talent pool, a necessary first step if we are to maintain our competitive edge in science and technology.”

Raytheon has awarded more than $2 million annually in MathMovesU scholarships and grants to deserving students, teachers and schools since the program’s inception.

The $20,000 bonus award is open to the 300 students who have previously won a MathMovesU scholarship. Up to 30 recipients will be chosen based on academic record, demonstrated leadership and participation in school and community activities. To apply for a camp scholarship, current middle school students need to create a multimedia submission illustrating how math factors into their favorite pastimes. In both cases, all applications will be evaluated by Scholarship Management Services.

In an effort to spur interest in math and science, Raytheon created and launched MathMovesU in 2005. Through interactive learning programs, contests, live events, scholarships, tutoring programs and more, MathMovesU engages and inspires students. By demonstrating that learning can be fun and that an interest in math and science can lead to better grades and scholarships, MathMovesU encourages students during their middles school years and throughout their academic lives.

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.

Application for the MathMovesU bonus study award is by invitation only and is open to a pool of 300 prior scholarship winners.