The National Basketball Association (NBA) today established the David J. Stern Sports Scholarship to provide talented and promising students the opportunity to further their study of sports management. NBA Commissioner Adam Silver made the announcement today at a press conference following its unanimous adoption at the NBA Board of Governors’ October meeting.

The scholarship will be awarded annually to a student who has successfully completed his/her freshman year of college. Each recipient will receive $30,000 ($10,000 per each of the remaining three years) towards tuition as well as an NBA internship after his/her junior year and direct mentorship from Stern.

“As someone who knows first-hand the value of David Stern’s mentorship, I am thrilled that we are able to provide this opportunity to a worthy candidate each year,” said Silver. “David has always emphasized the importance of a strong education and this scholarship is another example of his commitment to learning.”

The Thurgood Marshall College Fund (TMCF) will administer the program and select finalists annually. The inaugural scholarship will be awarded, based on a combination of need and merit, to a student entering his/her sophomore year of college beginning in the fall of 2015. The TMCF will share application details later this season.

“The increased costs of college, along with stricter grant and loan requirements, make scholarships like this all the more important to help students get to and through college,” said TMCF President & CEO Johnny C. Taylor, Jr. “The NBA has been a great supporter of TMCF and continues to demonstrate its commitment to improve education and build tomorrow’s leaders.”