Foundation awards scholarships to children of technology professionals

Foundation awards scholarships to children of technology professionals

In an effort to help families of Photronics avoid the massive debt that can come with higher education, the Macricostas Family Scholarship Foundation has awarded financial aid to children of the technology company's employees.

For the 13th consecutive year, the nonprofit organization disbursed scholarships to prospective college students who demonstrated academic excellence and outstanding character.

The foundation, which was created by the family of former Photronics chairman Constantine Macricostas, provided a total of $43,500 to 38 students this year. The winners were chosen based on academic achievement, involvement in school programs, community service, extracurricular activities and an essay. Awardees may use the funding to help cover the expenses that come with a campus-based or online degree program.

These scholarships are the company's "small way of positively impacting the future in both a local, but more importantly, a global realm," Macricostas said.

Since an original endowment of $500,000 was made to create the foundation, a total of $617,750 in scholarships has been awarded to deserving children of Photronics employees.

By Stefanie Hughes