Applications for the Loomer-Mortenson Scholarships are open for individuals connected to the accounts receivable management industry and their children.
04/13/2022 11:00 A.M.
3 minute read
There is one month left to apply for Loomer-Mortenson Scholarships and ACA International is urging its members to share the scholarship details with their staff before the deadline to raise awareness about this important opportunity.
Each year, the ACA Education Foundation (ACAEF) offers scholarships through the Loomer-Mortenson Scholarship Program. These scholarships are designed to help individuals connected to the accounts receivable management (ARM) industry and their children to further their education at post-secondary colleges, universities, community or technical colleges.
Applications for the 2022 scholarships are open now through May 13, 2022.
Isabella Schenking, whose parent is employed by Crown Asset Management in Duluth, Georgia, received a $10,000 scholarship last year to attend Hanover College.
“Winning this scholarship is a life-changing event and I could not be more excited,” Schenking said. “With this scholarship, I am able to purchase my books needed my freshman year, as well as live on campus and have more time to focus on my studies. My aspirations are to become an advocate working with the Department of Education for children with dyslexia and this scholarship will help propel me forward in this endeavor.”
Scholarships are open to employees in the ARM industry as well.
“One of the blessings and curses of our industry is knowing and understanding the importance of financial literacy. To promote the importance of financial literacy, every year the ACA Education Foundation awards tens of thousands of dollars to ACA members, their employees, and children of their employees via the Loomer Mortenson Scholarship Program,” said Roger Weiss, president of CACi and the ACA Education Foundation Board. “The scholarships awarded, ranging from $1,000 to $10,000, are the end product of promoting financial literacy. By way of our members encouraging employees, and their children, to apply for the scholarships, everyone hearing about it can’t help but raise an eyebrow, discuss, and consider the need to improve upon financial literacy at all levels.”
Applying for a Scholarship
Scholarship applicants must be a current employee or child of an employee at a company affiliated with the credit and collection industry.
Additionally, the applicant must enroll for a minimum of 12 credit hours at an accredited college, university, vocational-technical college or community college within 12 months following receipt of the award.
Winners will be selected based on their cumulative grade-point average, their official grade transcript, and a written submission of a two- to three-page essay on the value of consumer credit to our nation’s economy. This may be either a creative story or persuasive essay.
Applications can be emailed to [email protected] by May 13 or mailed and postmarked by May 13 to:
ACA International Education Foundation
Loomer-Mortenson Scholarship Program
3200 Courthouse Ln.
Eagan, MN 55121-1585
Remember: There is also still time to join ACA’s Collectors Challenge through April 30. All proceeds of this fundraiser benefit the ACAEF and the Loomer-Mortenson Scholarship Program.
Financial Literacy Month
April is Financial Literacy Month (#FinancialLiteracyMonth). Building consumers’ financial literacy is good for everyone. It helps consumers understand how they got into debt, how to work with collectors to resolve their account and how to right the ship going forward. It shows clients that you care about their customers. Plus, it helps collectors when consumers trust their motives and the debt collection process in general.
For more resources for your company and to share with consumers, ACA International’s Know My Debt website delivers clearly worded explanations to help consumers improve their financial literacy and resolve their debts.