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CarMax starts scholarship for Richmond students

Tuesday - 5/7/2013, 12:27pm  ET

RICHMOND, Va. (AP) -- Used car dealership chain CarMax Inc. has established a $250,000 endowed scholarship for Richmond-area high school graduates.

The Richmond Times-Dispatch reports the scholarship is in honor of CarMax founder and retired board chairman Richard L. Sharp.

The scholarship was announced during a ceremony Monday to dedicate the company's first store, which opened nearly 20 years ago, to Sharp.

Starting next year, the scholarship is expected to be awarded annually through a competitive process based on academic performance.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com


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