An interesting oppurtunity?

I was approached by a business man who works with my father and has a son my age who attends my high school. None of us are well off and we certainly are very interested in scholarships for college. We check our scholarship board once a month to see what is open and tend to find that we can only apply for a small percentage of them cause they are solely for another group "asian" "african american" etc. He is proposing a scholarship for whites in which you have to read the fountainhead and write a paper on this and he will select the best one (i believe it has to be about how it can apply to real world not sure though) and the winning one gets $2000. It's not that im all for whites or anything but I have a huge issue with race stipulation on scholarships and affirmative action in general. I am looking for ideas, opinions, comments, improvements, w/e. TYVM for your support, help, and criticism!