In the 2009-2010 academic year, U.S. Bank will award up to 40 internet scholarships to eligible high school seniors and college or university undergraduates.

The scholarships, which are valued at $1,000 each, are available through the U.S. Bank Internet Scholarship Program to U.S. citizens and permanent resident aliens who are seniors in high school or a current freshman, sophomore, or junior at a participating four-year college or university.

"Attempting to address the economic challenges that many students and their families are experiencing, U.S. Bank is providing more internet scholarships this year," said Beth Dinndorf, senior vice president and manager of U.S. Bank Student Banking. "We also want students who are currently enrolled as undergraduates at a college or university to be able to apply for an internet scholarship."

In the past 13 years, U.S. Bank has awarded more than $350,000 in scholarship funding. In past years, the company doled out up to 30 scholarships, and limited eligibility to graduating high school seniors.

According to the Bureau of Labor Statistics, says the unemployment rate for people with only a high school diploma is about three percent higher than it is for professionals with a bachelor's degree.