Business students could have more scholarship opportunities starting this fall.

AEGON TransAmerica Foundation, based in Cedar Rapids, pledged $100,000 to the College of Business to establish an endowed scholarship for students majoring in accounting and finance.

Labh Hira, dean of the College of Business, said the foundation plans to award four $1,000 scholarships to students each year.

“With tuition rising, financial support is important to recruit and keep quality students here,” Hira said.

AEGON TransAmerica Foundation is the philanthropic organization of the AEGON Insurance Group.

“We feel Iowa State is a great university that has a close connection with us, because we are also teaching and educating people, and our company is in a place where we will be hiring people, and ISU students are a good fit,” said Marie Swope, vice president of the AEGON TransAmerica Foundation.

Three scholarships have already been awarded for this fall, Hira said, one for accounting, one for finance and one for management information systems.

Hira said the scholarships are awarded based on grade point average, leadership activities and extracurricular activities.

Swope said they have also set up endowments at surrounding colleges.

“We have tried to establish, over the last two years, a scholarship endowment at the area colleges,” Swope said.

“We want to help students further their education, and we have a strong internship here. We are already recruiting students at Iowa State for the internship program, and the scholarship endowment would be added incentive to come to our company.”