The KPMG Foundation has granted $410,000 in scholarships to 41 minority doctoral scholarships for the 2008-2009 academic year as part of its effort to increase the number of minority students and professors in business schools.

The foundation granted 10 new awards and renewed 31 awards of $10,000 each. The scholarships are renewable for a total of five years.

KPMG is handing out the scholarships in conjunction with the PhD Project, a related program whose mission is to increase the diversity of business school faculty.

The Minority Accounting Doctoral Scholarship program has helped to more than triple the number of minority business professors in the U.S. since the PhD Project first began in 1994. Today there are 909 minority business school professors teaching in the U.S. More than 400 minority students are currently enrolled in business doctoral programs, with another 45 to 50 scheduled to start this September.

The KPMG Foundation has earmarked more than $8.6 million in scholarships to date, providing financial support to approximately three-fourths of all minority accounting doctoral students in the nation. The program is open to African-American, Hispanic-American and Native American doctoral students in accounting.

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