This is awesome and huge news! Penny Arcade has announced the Penny Arcade Scholarship for the 2008-2009 academic year. The Penny Arcade Scholarship awards one qualifiying student $10,000 to help pursue a career in the game industry.
The application process requires a two-page essay describing the applicant's studies and intent to benefit the game industry. You'll also need two letters of recommendation and a copy of your transcripts.
The other requirements include being a full-time student at an accredited college or university and must have a GPA with a 3.
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