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