PHOENIX – The Universal Technical Institute (UTI) Foundation announced today that Wells Fargo has provided a $75,000 grant to establish the Wells Fargo Technical Scholarship Fund. The fund will support 25 scholarships for students who are seeking degrees at Universal Technical Institute, Inc. (NYSE: UTI). UTI is a provider of technical education for individuals pursuing careers as professional automotive, collision repair, diesel, marine or motorcycle technicians.
“Wells Fargo believes every child and adult has the right to receive a quality education, and we are committed to supporting education and job-training opportunities in our communities,” said Pam Conboy, regional president for Wells Fargo Arizona Regional Banking. “In 2007, Wells Fargo contributed $28 million to schools and educational programs across the country – including $1 million to education in Arizona. We’re very pleased to continue that tradition and to support the UTI Foundation with this grant. ”
“The scholarships created by the Wells Fargo grant will help deserving students get the technical education they need to follow their passion and pursue successful careers,” said Veronica Meury, vice president and executive director of UTI Foundation.
The UTI Foundation supports education, hands-on learning and the great need for qualified technicians. U.S. Department of Labor statistics show that 773,000 automotive, marine, motorcycle and diesel technicians were employed in the U.S. in 2006. This number is expected to increase by 14 percent by 2016, with an average of 43,600 new service tech jobs available annually. Since 1965, UTI has trained some of the best and the brightest to fill these positions, and the UTI Foundation works with generous donors like Wells Fargo to help ensure that financial aid is available to more students than ever.
Prospective UTI students who wish to attend any of UTI’s 10 campuses may apply for a $3,000 Wells Fargo Technical Scholarship. “When students cannot come up with the funding for school, they lose their chance for an education before they even start,” added Meury. “A scholarship of $3,000 reduces the tuition gap, making it possible for even the neediest students to fulfill their educational dreams.”
Application and criteria for the Wells Fargo Technical Scholarship Fund is available on the UTI Foundation website at www.utifoundation.net.
About Wells Fargo:
In Arizona, Wells Fargo has 14,000 team members and 262 stores. Wells Fargo & Company is a diversified financial services company with $609 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States, and one of only two banks worldwide, to have the highest possible credit rating from both Moody’s Investors Service, “Aaa,” and Standard & Poor’s Ratings Services, “AAA.”
About UTI Foundation:
The UTI Foundation, a 501(c)(3) Arizona non-profit, is the umbrella organization for all Universal Technical Institute, Inc. (NYSE: UTI) not-for-profit initiatives and is dedicated to raising funds to further its mission and strategic goals. The UTI Foundation supports technical education for the automotive, diesel, collision repair, motorcycle, marine and NASCAR industries through scholarships, grants, career development and other special programs. For more information, visit www.utifoundation.net.
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