The Ronald Reagan Presidential Foundation, a Simi Valley-based non-profit organization, and GE are now accepting applications for the 2012 GE-Reagan Foundation Scholarship Program.

The annual program selects up to 20 students to receive a $10,000 scholarship, which is renewable for an additional three years.

The program, which aims to award up to 200 four-year college scholarships over the next decade, launched earlier this year. In June, 22 recipients were honored at a ceremony at the Ronald Reagan Library in Simi Valley.

The scholarship program is a component of the Ronald Reagan Centennial Celebration, a year-long celebration of President Reagan’s 100th birthday. Connecticut-based GE, A presenting sponsor of the Celebration, contributed $5 million to establish the program. The Ronald Reagan Presidential Foundation committed $3 million.

Selected recipients must demonstrate qualities that embody those personified by President Reagan, including leadership, drive, integrity and citizenship.

In a prepared statement, John Heubusch, executive director of the Ronald Reagan Presidential Foundation said President Reagan believed in educating and inspiring future leaders of tomorrow.

“The GE- Reagan Foundation Scholarship Program enables us to continue this tradition and keep his spirit among the youth of today,” Heubusch said.