DETROIT -

Michigan First Credit Union is offering high school and college students more than $50,000 in scholarships.

They're soliciting students to submit a 60-second video or a 300-word essay responding to the question, "What would you do with $50,000?"

The top three entries in three categories will receive $10,000, $5,000 and $3,000 scholarships. Additional $1,000 scholarships will be given to other qualifying entries.

The deadline is Feb. 12.

Interested students can visit youngfreemichigan.com for more information.

2012 Young & Free Michigan scholarship winners (from left) Ryan Smith, Marie McRandall and Stephanie Davis with Michigan First's Janelle O'Hara. There will be six additional large prize winners for 2013 as well as multiple recipients of $1,000 scholarships. Learn more at YoungFreeMichigan.com. (Photo courtesy Michigan First Credit Union)