University of Phoenix is paying it forward

The program asks alumni to nominate deserving students for scholarships

A new scholarship program from the University of Phoenix is asking alumni of the online school to nominate whomever they choose to receive full-tuition scholarships for a bachelor's degree.

The program was created in 2006 in honor of the university's 30th anniversary. Since then, 30 recipients have been selected each year.

The first winner was Aryn McCoy, and she expressed gratitude for the award she was given.

"The education I received at University of Phoenix was truly life-changing," said McCoy. "I never could have afforded to continue my education, either financially or time-wise. I was honored when [Alumna Dr. Charlene Dunfee] nominated me and I was selected for the scholarship."

Winners of Paying it Forward scholarships may study any subject area they choose, and they may complete their studies at University of Phoenix campuses or online.

To nominate someone, alums must fill out an application and submit it by the October 16 deadline. Graduates at any level may nominate candidates for the scholarship; a panel of alumni also make up the selection committee. Applications are available now.