In 1988, Dr. Carrasquillo proposed that the Puerto Rico Concrete Association (PRCA) create a scholarship fund to help economically disadvantaged candidates pursue degrees in the Civil, Mechanical, Chemical. Electrical and Industrial Engineering disciplines. the goal of this scholarship is to improve the industry and contribute ideas and innovative projects to achieve greater efficiency and equality in our society. Since its inception, the fund has been called the Dr. Ramón L. Carrasquillo – Scholarship Fund.
Apart from the six figure amounts given in personal contributions, Dr. Carrasquillo, a native of San Juan, has also subsidized, directed, and spoken at the annual fund raising seminar for the past 25 years. He presents the latest research and technological innovations at the Seminar, which is known as one of the most important technical events in Puerto Rico. The Civil Engineering Institute, ACI, AGC local chapters, and the PR Homebuilders Association co-host the even which earns more and more reputation in the construction industry each year that it takes place. The event is called El Seminario de la Beca Dr. Carrasquillo, one of the most renowned engineering educational happenings on the Island.