Where the Smart Money Is

McDonald’s, the world’s largest fast-food chain, has launched Ronald Scholars, which will offer as much as $1.6 million in scholarship money throughout the year.

The program features a game piece in specially marked Happy Meal toy bags that will reveal an instant prize of $25,000 in scholarship money or educational trivia.

Four $25,000 scholarships will be awarded during each Happy Meal promotion in 2000.

To launch the program, McDonald’s gave out seven $25,000 scholarships between Dec. 24 and 30, said R.J. Milano, vice president of McDonald’s U.S. marketing. While the chain would like the money to go toward a college education, the winners are not obligated to spend it that way. Those who win the $25,000 prizes will receive $5,000 a year for five years, the company said.