Five University of Guam students were chosen to receive more than $16,000 for the First Hawaiian Bank and Guam Business Magazine Businesswoman of the Year scholarship.

Business Administration major Joby Marie D. Catibog received $4,030, Vanessa A.S. Espinosa received $2,980, Amery Jane A. Madeloso received $3,190, Jeanie Nguyen received $3,190, and Claudette A. San Nicolas received $2,770, which includes a $250 book stipend per student.

Jonita R. Cepeda and Flori-Anne Dela Cruz from Guam Community College also received $3,840 collectively.

The scholarship is intended to promote higher education through financial assistance for college students pursuing professional careers in business. The recipients of the awards were selected based on total number of credit hours for the semester, grade point average, involvement in the community and potential for success in business.

Since 2006, the program has awarded a total of $207,377.50 in scholarships to 111 college students in Guam and Saipan.