Massachusetts Mutual Life Insurance Company has set aside $60,000 for scholarships for students of color in the Atlanta, Houston, Los Angeles and San Francisco areas.

MassMutual, Springfield, Mass. Says it will be giving away 12 $5,000 scholarships to students of African-American, Asian/Pacific Islander, or Hispanic descent who have grade point averages of at least 3.0 and are majoring in the fields of accounting, business, economics, finance, marketing, math or statistics.

Eligible students must be sophomores, juniors or seniors.

Local general agencies will help provide the scholarships and arrange internship opportunities.

The application deadline is Feb. 18, 2009.