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Students in New Mexico State University's insurance studies program will have an easier time with tuition, thanks to a $10,000 gift from State Farm Insurance. The gift will go toward student scholarships.
"This scholarship money was the result of efforts by Al Berryman, director of the Insurance and Financial Services Center in the College of Business," said Lizbeth Ellis, head of the Department of Finance. "He has worked with State Farm for the past few years in selecting insurance students as interns and in supervising the internships. State Farm was so pleased with its first intern that it hired him into a full-time position after he graduated. This summer, State Farm has two NMSU insurance student interns."
"Obviously, with the increasing cost of education, any assistance provided by the insurance industry enables our students to focus on their studies while attending school," said Tim Query, NMSU finance professor.
A survey done by the NMSU College of Business found its students work an average of 26 hours a week during the school year.
Query said with a relatively new program, such as insurance studies, the three areas that are most effective in attracting students are scholarships, internships and careers.
"Our program provides a foundation of knowledge in the industry that enables our students to hit the ground running and in some cases reduce their training by insurance companies significantly," he said. "We also act as liaisons between companies seeking to fill career positions or internships and students seeking them."
He said the financial services industry is concerned with recruitment and retention of younger employees who are needed to fill positions as baby boomers begin to retire.
NMSU has the only insurance studies program in the mountain states region and offers a minor in insurance that can be combined with any major. The College of Business also offers an actuarial science option in conjunction with the Department of Mathematical Sciences.
Additional information can be found at http://insurance.nmsu.edu.
© 2013 New Mexico State University Board of Regents
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