There are a number of engineering universities that have programs that engineering students can participate in. One of the more popular programs for mechanical engineering undergraduates is the Formula SAE program. The University Of Texas at Arlington has had a very successful program for the past 30 years taking home numerous podium finishes in the annual competitions.

Ok, here’s something for all you folks out there hitting the books to become engineers, check this latest information out of Ford Motor Company. You never know where you might be able to find more money for school and if you’re heading toward the automotive realm in engineering, this might be just your ticket.

Allan Mulally

Official Press Release Below:

FORD MOTOR COMPANY ANNOUNCES $1 MILLION ALAN MULALLY LEADERSHIP IN ENGINEERING SCHOLARSHIP PROGRAM

• Scholarships will honor former Ford Motor Company CEO Alan Mulally’s background and expertise in science and engineering
• Ford Motor Company Fund will administer $10,000 scholarships annually to 10 outstanding sophomore or junior engineering students working toward degrees in the automotive field at premier partner universities around the world
• Scholarships support Ford education efforts to build a new generation of leaders in the fields of science, technology, engineering and math (STEM)

Ford Motor Company today announced the Alan Mulally Leadership in Engineering Scholarship, a $1 million program that honors the company’s former CEO by providing financial assistance to outstanding students pursuing degrees in the field of automotive engineering.

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“Alan’s engineering background and data-driven decision making paved the way for the extraordinary leadership he provided at Ford,” said Ford Executive Chairman Bill Ford. “We are honoring his legacy by providing scholarships to students who demonstrate the strong engineering ability that is required to develop into the next generation of leaders for our industry.”

Mulally joined Ford in September 2006 and served as president, CEO and a board member until his retirement on June 30. He guided the company in bringing everyone together to work on a compelling vision, through a comprehensive strategy and relentless implementation of the One Ford plan to drive profitable growth for all Ford stakeholders.

The Alan Mulally Leadership in Engineering Scholarship program will award 10 one-time $10,000 scholarships each year to outstanding sophomore or junior engineering students at premier partner universities around the world. The program will run for 10 years starting in spring 2015. Funding for the program will consist of $500,000 from Ford Motor Company and $500,000 from Ford Motor Company Fund, the company’s philanthropic arm.

Ford Fund will manage the program as part of its global Ford Blue Oval Scholars initiative. Scholarship winners will be connected with the company’s corporate science, technology, engineering and math (STEM) strategic initiative, which is building a new generation of leaders in these key disciplines. Ford will work directly with its partner universities to identify scholarship recipients.

Ford believes education is the cornerstone for a brighter future. This has been a primary focus of Ford Fund since it was established in 1949. Last year, Ford Fund contributed $8.5 million – more than 30 percent of its annual giving – to education programs.