Questa Foundation for Education today announced it will invest more than $500,000 during the next five years to help area students pay for college.

To qualify, the students must pursue careers in advanced manufacturing and engineering, graduate with at least a B average and pledge to work in northeast Indiana for at least five years after graduation.

Questa, a Fort Wayne-based nonprofit, also announced a new partnership with the Talent Initiative designed to increase training and retention of future advanced manufacturing and defense/aerospace workers in the region.

Talent Initiative, a program of the Northeast Indiana Fund and Community Partnerships Inc., was established by a $20 million grant from Lilly Endowment Inc. to support education and training initiatives in science, technology, engineering and math.

The Questa Scholars 1/2 Back Loan Program offers Allen County students forgiveness of up to 50 percent of their Questa Scholars loan if they graduate from college with a 2.75 GPA and choose to live and work in northeast Indiana for at least five years after earning a degree.

Scholarship recipients may borrow $20,000 during a four-year period.

Representatives from steelmaker Steel Dynamics Inc. and defense contractor Raytheon also spoke at today’s announcement. They talked about U.S. employers’ critical need for job applicants qualified in engineering and advanced manufacturing.

Christina K. Smith, Questa’s executive director, announced Questa will earmark six loan awards this year for qualified applicants who pursue an advanced manufacturing degree at Ivy Tech. Steel Dynamics Foundation is underwriting those awards.

For more on the announcement, see Tuesday's print editions of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Tuesday.

sslater@jg.net