CARRABASSETT VALLEY – Carrabassett Valley Academy has recently established a new scholarship fund that has been launched with a $100,000 grant from the New Balance Foundation of Boston.

In setting up the scholarship at CVA, one of the goals of the New Balance Foundation is to benefit the company’s loyal and hard-working employees in Maine. Preference will be given to scholarship applicants from Oxford and Somerset counties, where New Balance businesses operate. The first scholarship will be awarded for the 2006-2007 school year.

“This scholarship fund is a wonderful example of how organizations with similar ideals can join forces to make a real difference for Maine kids. The grant is a powerful endorsement for the CVA program,” said John Ritzo, headmaster.

For more information on the scholarship fund, visit

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