Loomer-Mortenson Scholarship Application Deadline Fast Approaching

Applications for the Loomer-Mortenson Scholarships are open until May 13 for individuals connected to the accounts receivable management industry and their children.

04/28/2022 1:00 P.M.

3 minute read

There are just a couple weeks 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.
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Members from Malone Frost Martin PLLC have also established a new scholarship as part of the program in memory of Robbie Malone, a former ACA member active in the Members Attorney Program and Judicial Committee since its inception.

The $2,500 scholarship will be awarded to one recipient annually starting this year at ACA’s 2022 Convention & Expo in conjunction with the Loomer-Mortenson Scholarship Program. The ACAEF will choose one of the Loomer-Mortenson applicants to receive the scholarship in honor of Malone.

“Robbie was a zealous advocate of this industry and for all of her clients,” said Mike Frost, partner at Malone Frost Martin PLLC, who initiated the scholarship. “She wanted to leave her mark on this industry, and we felt that this annual scholarship award was a great way to do just that as Robbie was also a great teacher and mentor—one who would never ask anyone to do anything that she was not willing to do herself.”

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

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