The American Association of Commercial Finance Brokers (AACFB) announced the launch of its newly developed scholarship program aimed at providing assistance to disadvantaged students.

The scholarship, developed by AACFB members Tina Cawthorn, Cindy Downs and Jim Phelps, will be open to high school seniors and students attending a trade or technical school in addition to those attending a two or four-year institution of higher learning. AACFB will award $500 to the initial winner, however, donations will be accepted to help increase the award value in the future.

Former AACFB Secretary/Treasurer Jim Phelps stated, “After serving as the Secretary/Treasurer for the AACFB for two years, I felt called to find a way for the association to give back and to lift up young people who will be the future of this country and the organization. My fellow members of the Board agreed, which paved the way for the formation of the Scholarship Taskforce and money being set aside for the fund. I am very pleased to be a part of this effort and look forward to seeing it flourish.”

“The association recognizes the need in our communities to aid students who may be at a disadvantage due to situations beyond their control such as homelessness, poverty, or an unstable home environment. The goal is to enable these individuals to finish their educations and to increase their chances of success,” added AACFB President Cindy Downs. “We hope to be able to grow the scholarship fund in the future so more students can be helped, and we may be able to offer higher scholarship amounts.”

To apply, students must be recommended by an active member of the AACFB, however, the student cannot be an immediate family member of an AACFB member. The student must complete the scholarship application and provide an essay demonstrating need and the ability to complete the course of study chosen as well as supply two letters of recommendation.

Applications are due by Dec. 15, 2020. The winner will be announced by March 1, 2021. Those interested my apply here. Donations to the scholarship fund may be made here. Questions about the program may be sent to info@aacfb.org.