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Three Texas State University students--Colby Bohannan, Brandon Bohannan and William Lake--recently founded the Former Majority Association for Equality (FMAE), which is now offering five $500 scholarships exclusively to white males.

"Bohannan said that when he first applied to college, his family didn't have a huge stockpile of money set aside to pay for school," writes The Austin American-Statesman's Patrick George. "He found many scholarships for women and minorities, but none aimed at people like him: white men. 'I felt excluded,' said Bohannan, a Texas State University student. 'If everyone else can find scholarships, why are we left out?'"

The Daily Beast's Lloyd Grove spoke with the nonprofit's 30-year-old finance director, who, Grove reports, said that the group's requirements are straight forward. "Basically, you have to be at least a 25 percent Caucasian male and have to have demonstrated a commitment to your education with at least a 3.0 grade average, demonstrate financial need, and show you're contributing positively to your community."

FMAE is headquartered in San Marcos, Texas and says it does not endorse racism and will not accept applications or contributions from white supremacist groups. The Toronto Sun reports that the FMAE also claims it has no official stance on affirmative action.

"Since founding his organization, Bohannan said he's heard from supporters, as well as from those who accuse him of bigotry," writes ABC News' Brian Braiker. "'We're not racists, just guys trying to help young Americans,' he said."

This is not the first whites-only scholarship to be offered in recent years. The Grio's David A. Love reports that in 2004, a student Republican organization at Roger Williams University in Bristol, Rhode Island offered a $250 whites-only scholarship. And in 2006, the president of Boston University's College Republicans founded a $250 scholarship for whites to protest affirmative action and what the group called 'racial preferences' for minority groups.

"I do understand that there are many poor white people out there--but white males are hardly in the minority and face far fewer societal hurdles than any other group," writes Forbes' E.D. Kain. "I suspect that even if we do become a minority some day, as a group white men will still wield the most political and economic power for a very long time. Giving scholarships to the dominant economic and political group to the exclusion of all others is racist no matter how you make it spin."