This week is National Teacher Appreciation Week and the Washington Mutual Foundation is providing $1 million in scholarships for teachers pursuing National Board Certification, nearly doubling last year's scholarship assistance funding.

National Board Certification represents one of the most challenging and prestigious accomplishments in the teaching profession. A voluntary process established by the National Board for Professional Teaching Standards (NBPTS), certification is achieved through a rigorous performance-based assessment that takes nearly a year to complete. Currently, there are more than 16,000 National Board Certified Teachers (NBCTs) in the United States.

"For students to meet ambitious academic standards, they must have superbly prepared teachers," said Washington Mutual Chairman, President and CEO Kerry Killinger, a long-time advocate for teachers and education. "For teachers to meet increasing demands, they must have opportunities to continue learning. National Board Certification is a great example of teachers taking personal initiative to enhance their skills."

Nearly 800 teachers nationwide received scholarship assistance from Washington Mutual's initial round of funding in 2001 and are currently mid-way through the 2001-2002 certification process. Their results will be announced in November 2002. This week, in celebration of National Teacher Appreciation Week, Washington Mutual staff will deliver care packages to all of them to help keep their spirits up. The packages include a letter of encouragement, office supplies and a copy of the best seller Chicken Soup for the Teacher's Soul by Jack Canfield and Mark Victor Hansen.

"Words cannot express my joy and gratitude for the scholarship assistance," said a 2001 Washington Mutual scholarship recipient and candidate for National Board Certification from Los Angeles. "This is an energizing process and cannot help but make me a more competent teacher. I am already looking at my practice and students in new ways and seeing how better to engage and support them in their learning."

"The National Board is grateful to Washington Mutual for its continued support for teachers striving to reach the top of their profession," says NBPTS President Betty Castor. "Increasing the number of National Board Certified Teachers will make a dramatic difference in student success in classrooms across the country -- and this additional funding will help us attain those goals. Creating more National Board Certification opportunities will lead to a stronger teaching force and higher student achievement."

Incentives for attaining National Board Certification

Increasingly, teachers are being financially compensated for successfully attaining National Board Certification. Legislative and policy action creating incentives and recognition has been enacted in 48 states and more than 400 local school districts, including the District of Columbia. For example, in Georgia, NBCTs receive an annual 10 percent salary increase. In California, they receive a one-time $10,000 bonus and an additional $20,000 for teaching four years in a low performing/low income school. Other incentives include waiving local licensing requirements and leadership opportunities. The NBPTS web site (www.nbpts.org) maintains a comprehensive list of incentives by state.

Plus, according to a recent NBPTS survey on teachers who have successfully attained National Board Certification, 94 percent reported increased career satisfaction and 85 percent reported an increased desire to continue teaching, a critical finding as the nationwide teacher shortage worsens.

About Washington Mutual's scholarship assistance

K-12 public school teachers in all 50 states and the District of Columbia are eligible for Washington Mutual scholarship assistance, which covers up to 50 percent of the National Board's $2,300 certification fee, on a first come, first served basis. Funds can also be used to cover retake fees (approximately 50 percent of teachers successfully attain certification on their first attempt). Scholarship recipients may also be eligible to apply for zero-interest loans from Washington Mutual for the remainder of the fee. For more information about the process or to request an application, teachers can call the National Board for Professional Teaching Standards at 888/908-3337. Teachers can also apply online at www.nbpts.org.

About the National Board for Professional Teaching Standards

The National Board for Professional Teaching Standards is an independent, nonprofit, nonpartisan and nongovernmental organization governed by a 63-member board of directors, the majority of whom are classroom teachers. Created in 1987, the National Board's mission is to advance the quality of teaching and learning by: maintaining high and rigorous standards for what accomplished teachers should know and be able to do; providing a national voluntary system certifying teachers who meet these standards; and advocating related education reforms to integrate National Board Certification in American education and to capitalize on the expertise of National Board Certified Teachers. For more information about the National Board for Professional Teaching Standards, visit www.nbpts.org.

About Washington Mutual

With a history dating back to 1889, Washington Mutual (NYSE: WM) is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2002, Washington Mutual and its subsidiaries had assets of $275.22 billion. Washington Mutual currently operates more than 2,400 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation.

The company annually returns two percent of pretax profits to the communities it serves through grants and other assistance, with an emphasis on affordable housing and K-12 public education and teachers. This year, Washington Mutual's education giving will total more than $15 million with 50 percent dedicated to teachers specifically. For more information, visit www.wamu.com.

Washington Mutual, Inc.

Washington Mutual, Inc.

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