Old Lyme - Two Lyme residents and longtime supporters of the Lyme Academy College of Fine Arts have established two $5,000 prizes for students at the college.

Stephen Wardlaw's and Lynne Wardlaw's awards are the Wardlaw Prize for Excellence in Sculpture and the Wardlaw Prize for Excellence in Two-Dimensional Art, available to Lyme Academy students graduating in May 2011.

Students can apply for the two awards in September. As part of their application, students must submit a digital portfolio of their artwork as well as a written statement on their ambitions for their senior year and how the award would help them achieve their goals.

Chairs of the faculty department will recommend at least one finalist for the prize by Sept. 30. Award recipients will be notified by Oct. 8.