Monterey Mushrooms has awarded $175,000 in scholarships for the 2012-13 school year to 135 students.

The company started its scholarship program in 1992 and has awarded more than $1.8 million to more than 1,250 children of Monterey employees.

“As we progress into this decade, it’s essential that we maintain our innovation and strength — whether it’s in the fields of teaching, health care, science, engineering or areas of higher learning — we must look to our coming generations to provide this critical knowledge,” Shah Kazemi, president and chief executive officer, said in a release.

The applications for the scholarship were received from Monterey’s facilities in North America, according to the release.

Monterey’s scholarship is based on academic achievement, financial need and future potential of the recipient.

The awards are made for one year at a time for a total of four years, if the student keeps meeting the requirements of the program, according to the release.

The scholarship program is named for Carl Fields, the late vice president of marketing for Monterey Mushrooms.