Essay Contest to support early college investments for 8th-grade students
The Mary Lou & Arthur F. Mahone Foundation and the Wisconsin College Savings Program Edvest 529 are pleased to announce a new scholarship to help middle school students in Kenosha and Racine get an early start on saving money for college or career training.
This partnership is funding $500 scholarships for 20 current eighth-grade students to help encourage the mindset of saving for post-secondary education. These funds will be deposited in the selected students’ Edvest 529 investment accounts.
“We’re excited to partner with the Mahone Foundation to give these students more than a scholarship, we’re helping them take an early step toward their education and career goals,” said Cheryl Rapp, College Investment Program Finance Officer with the Wisconsin Department of Financial Institutions.
Tim Mahone said, “the Mahone Foundation is proud to align with Edvest to expand our investment strategies to support future education access and affordability for middle school students in the Kenosha and Racine areas.”
To kick off the initiative, the Mahone Foundation Career Exploration Organization(CEO) mentoring program will sponsor an Early Scholarship essay contest for eighth-grade students from the Kenosha or Racine Unified School Districts.
To compete in the essay contest, students should contact their middle school teacher to submit their application. Students must write a 750-word essay based on five questions. Ten students from each district will be selected. The Mahone Foundation will determine the criteria for the essay contest and select the scholarship recipients.
The essay contest begins Monday, Sept. 21 and closes Monday Oct. 5. Winners will be announced in mid-October and presented with their scholarships at an awards ceremony in November. Additionally, the Mahone Foundation will host an educational session on WI College Savings Program/Edvest 529 for all students and parents who submitted an Early Scholarship Essay.
“As College tuition continues to rise, it’s important for middle school students and their parents to understand how to invest and prepare for their futures,” said Tim Mahone. “The essay contest helps middle school students practice and improve their writing, research, and critical thinking skills which will position them for even greater success. Our initiative creates awareness about early college saving programs, but, more importantly, provides the money for parents to make the investment.”
Bryan Albrecht, a Mahone Foundation board member, said investing in youth is the most important commitment the foundation can make to build strong families and communities.
"The Edvest Scholarship initiative will impact family choices about their children's education and build sustaining financial resources to pursue higher education when the time comes,” Albrecht said.
Parents or guardians of scholarship recipients will be required to open an Edvest 529 account for their student if they have not already done so. The Edvest program is funding $5,000 in scholarships, with the remaining $5,000 coming from the Mahone Foundation, Educators Credit Union and donor Jennie Tunkieicz.
“Helping families begin planning and saving for education after high school at an early age can provide a strong foundation for a student’s future. Even a small investment today, combined with continued planning and saving over time, can help families prepare for the costs of future education and career opportunities while reminding students that their future is worth planning for.” said Cheryl Rapp
Jennie Tunkieicz, a long-time Mahone Foundation supporter, said: “I’m pleased to support the important work of the Mahone Foundation in our community. This scholarship initiative will help students get a jump start as they pursue their career goals and dreams.”
The Mahone Foundation, the Kenosha Unified School District and the Racine Unified School District have a shared commitment to reduce financial barriers to access college while advancing educational and career opportunities for students.
“We are grateful for the opportunity to help our students begin thinking about their futures at an early age,” said KUSD Chief Academic Officer Michelle Santelli. “Starting that conversation in middle school can help students see the possibilities ahead and take the steps needed to reach their goals.”
"This scholarship is not only an investment in a college education for our students; it is an opportunity to help them see what is possible," said RUSD Superintendent Soren Gajewski. "I'm grateful for this initiative because it shows our students that college is within reach and that they can take steps today to make that future a reality."
To learn more about the Wisconsin College Savings Program Edvest 529 please contact Khaleel Ali at khaleel.ali@tiaa.org or visit https://www.edvest.com. To learn more about the Mahone Foundation Early Scholarshipessay contest please contact - Lizeth Brito at britolizeth.lb@gmail.com
About the Mahone Foundation:
Founded in 1999, the Mary Lou & Arthur F. Mahone Foundation works to provide educational opportunities for economically and academically deserving youth while also supporting healthy lifestyle initiatives in the community. The foundation honors the legacy of the late Mahones, dynamic agents for change and social justice in Kenosha.
More information about the foundation and its activities is available at https://mahonefoundation.org.
About Edvest:
Wisconsin’s only direct-sold 529 college savings plan, Edvest has helped families save for higher education for more than 25 years. A 529 account allows for education savings to grow tax-deferred and can be withdrawn tax-free to support qualified expenses such as tuition, books, and supplies.
More information about Edvest is available at https://www.edvest.com.
