A mutual life insurance company has expanded its scholarship program for multicultural students.

Massachusetts Mutual Life Insurance Co., Springfield, Mass., said it is extending an existing scholarship program to more states. The revamped initiative will result in more scholarships and internships in the financial services field to program winners, MassMutual says.

The company is making $135,000 in scholarships available in 9 metropolitan areas as part of the program, which is open to students of African-American/Black, Asian/Pacific Islander or Hispanic descent.

Applicants for 27 $5,000 scholarships must meet certain academic criteria, such as having majors in the fields of business, economics, finance, financial planning, management, marketing and sales.

The scholarship program’s internship opportunities aim to expose recipients to financial services, increase diversity in financial services and support varied ethnic communities, MassMutual said.

The scholarship program’s application deadline is May 30. Winners will be notified in late summer.