School of Business

Patriot Education Scholarship Fund Awards $26,000 to USM Business Students

Three University of Southern Maine students received a combined total of $26,000 in scholarships from the Patriot Education Scholarship Fund of the Maine Community Foundation.

Benjamin Martin of Falmouth, a graduate of Deering High School who transferred to USM from the Maine Maritime Academy, is majoring in general management with the risk management and insurance track.  Currently, he is employed by Horace Mann in South Portland while enrolled as a full-time student.

Dana Hayward of North Yarmouth is a general management major pursuing the risk management and insurance track.  A graduate of Greely High School, he transferred to USM from Southern Maine Community College. Hayward is a first-generation college student currently employed by Estabrook’s of Yarmouth and Hayward Farms.

Matthew Swan of Portland is majoring in both finance and general management with the risk management and insurance track. A graduate of Cony High School, he is currently the vice president of the USM Finance Society, an officer in the Risk Management and Insurance Student Club, commander of Sigma Nu and a volunteer with youth sports. He is employed by Famous Footwear and Unum.

The Patriot Education Scholarship Fund at the Maine Community Foundation was created after the successful merging of Patriot Mutual Holding Company into Frankenmuth Mutual Insurance Company. The scholarship fund represents the commitment these companies share in supporting graduates of Maine high schools pursuing a degree in business at a college or university in Maine. Eligible students are graduates of a Maine high school who are pursuing a degree in business as full- or part-time students.  There is a preference for applicants who have a demonstrated interest in personal and commercial insurance professions.

Lincoln Merrill, president and CEO of Patriot Insurance Company, a member of the USM School of Business Advisory Council and USM’s Risk Management and Insurance Advisory Board, said Patriot Insurance endeavors to support the university’s risk management and insurance program because of its value to the industry as a whole, not solely to benefit Patriot Insurance. “The reason we are so committed to these scholarships is that our industry is facing a huge number of retirements in the coming years,” he said.

Merrill stated that Patriot Insurance was in a good financial position to reduce the hardship students endure with costs of tuition. “These students have so much debt, and we have the ability to help them complete their education without having to worry about the expense,” said Merrill. Three graduates of USM’s risk management and insurance program are currently employed by Patriot Insurance Company.