Rachel Tsao with two of her co-workers from PrimeWealth Management in Berkeley, where she works part-time when she is not in Dubai.

The country's 2008 economic crisis made an impression on Rachel Tsao.

The University of California-Berkeley student and Moraga resident felt additional pressure to achieve in school because her father dipped into his retirement savings after losing his job to help her pay tuition.

"I am afraid he will not have retirement money," she said.

Rachel Tsao plans to change that.

The sophomore is vigorously pursuing a business degree with plans to become a financial planner. A recent scholarship from the Massachusetts Mutual Life Insurance Company (MassMutual) will also put her on her way.

Tsao was one of three San Francisco area students to be awarded a "MassMutual Scholar" grant. Tsao received the $5,000 scholarship designated for multicultural students based on academic achievement and her interest in choosing a career in financial services. The grant was presented to Tsao's father, Jun-Yin Tsao, at a celebration put on by MassMutual's general agency, The San Francisco Bay Area Insurance Agency on Oct. 15.

Rachel Tsao is currently studying abroad in Dubai. She speaks Mandarin and Spanish and is studying Arabic while in Dubai.

"I want to become a financial planner because I want to teach people how to successfully manage their finances," said Tsao, who credits her grandmother for her unwavering perseverance. "I believe proper financial planning will allow families to successfully retire, save for vacations and send their children to college. I know with hard work and perseverance I can meet these goals."

Rachel also interns as an office manager at a boutique wealth management firm in Berkeley.

"Rachel is a self-motivated individual who would be a welcome addition to the financial services industry. We are proud to work with MassMutual to assist her education and encourage her to do well," said Robert Fakhimi, general agent and chief executive officer of the San Francisco Bay Area Insurance Agency.

Through its MassMutual Scholars Program, the company assisted 28 high achieving college students of diverse backgrounds in pursuing their higher education dreams. Overall, MassMutual awarded $135,000 in scholarships to outstanding multicultural students in 9 different metropolitan communities.