Contact: Frank Kunkle
Society for Industrial and Applied Mathematics
Real-world math competition results in tuition help for winners
Moody's Mega Math Challenge will award $125,000 in scholarships this year
Philadelphia, PA—Escalating tuition may deter some students from attending college, but Pew Research Center's 2014 study, "The Rising Cost of Not Going to College," shows that young adults with a degree are earning more than their peers who skipped college. This comes as good news for college students who wonder if their struggle to afford tuition is worth it, but the elephant in the room stands just as tall: can they lower their cost to attend school?
Students and their families may consider outside scholarships and competitions as a way to afford tuition. One scholarship opportunity that's gaining traction for those who excel in mathematics is Moody's Mega Math (M3) Challenge, the Internet-based math modeling competition for high school juniors and seniors in 45 states and Washington D.C. that will award $125,000 this year.
"Culminating evidence continues to show that a college degree is still relevant and necessary to the Millennial's quality of life, but reports of soaring debt are a real concern for our country's young generation considering college," Project Director Michelle Montgomery remarked. "The M3 Challenge is a great opportunity for students to earn scholarship dollars to put towards their higher education."
To date, the Challenge has granted more than 1,200 team awards ranging from $1,000 to $20,000 to college-bound high schoolers. Whether winners or not, participants gain much more than money, honing skills that are valuable in college, like team work, effective communication, time management, and relevant and practical problem solving. Previous Challenges have had students tackle topics such as the best recycling methods for U.S. cities to implement on a national scale or analyzing the unintended consequences of increased use of ethanol fuel. This year's problem is unknown to teams until they login on their Challenge day.
Teachers may visit m3challenge.siam.org any time before 8:00 p.m. EST on February 28 to register up to two teams of three to five students from their school.
About The Sponsor
The Moody's Foundation, a charitable foundation established by Moody's Corporation, is committed to supporting education, in particular the study of mathematics, finance and economics. The Foundation also funds specific initiatives in the areas of global economic development, microfinance, civic, health and human services as well as arts and cultural programs. The Foundation supports programs located in select metropolitan areas in the United States, the United Kingdom and elsewhere around the world.
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The Corporation, which reported revenue of $2.7 billion in 2012, employs approximately 7,000 people worldwide and maintains a presence in 29 countries. Further information is available at http://www.moodys.com.
About the organizer
The Society for Industrial and Applied Mathematics (SIAM), headquartered in Philadelphia, Pennsylvania, is an international society of over 14,000 individual members, including applied and computational mathematicians and computer scientists, as well as other scientists and engineers. Members from 85 countries are researchers, educators, students, and practitioners in industry, government, laboratories, and academia. The Society, which also includes nearly 500 academic and corporate institutional members, serves and advances the disciplines of applied mathematics and computational science by publishing a variety of books and prestigious peer-reviewed research journals, by conducting conferences, and by hosting activity groups in various areas of mathematics. SIAM provides many opportunities for students including regional sections and student chapters. Further information is available at http://www.siam.org.