Institute for Family-Owned Business Maine Futures Scholarship
The IFOB Maine Futures Scholarship was established in 2025 to provide tuition assistance to Maine residents pursuing a degree or certificate at an accredited post-secondary institution.
This scholarship is made possible through the generous support of IFOB family members, Board, Janet Cole Cross, Mascoma Bank, Malone Commercial Brokers and other families dedicated to preserving and strengthening the tradition of family-owned businesses in Maine.
Scholarship Overview
The scholarship is awarded annually to a Maine resident attending a post-secondary educational institution, including four-year colleges, two-year associate programs, and vocational schools.
The IFOB Maine Futures Scholarship recognizes students who aspire to become the future leaders of their family businesses and their communities. Recipients are selected based on their demonstrated commitment to continuing the legacy of Maine-based family business, as well as their entrepreneurial mindset, independent thinking, initiative, work ethic, and leadership abilities.
It is not required to own or work in a family business to apply or receive this scholarship. Our hopes are that this student will go on to help the Maine family business community in some way.
Scholarship Details
- Award Amount: $2,500 per year
- Renewable: Up to four years, contingent on enrollment and GPA or certificate completion
- Application Deadline: Friday, March 20, 2026, by 10:00 a.m.
Eligibility Criteria
Applicants must meet the following requirements:
- Be a Maine resident
- Attend a Maine-based post-secondary educational institution
- Intend to complete a full two-year or four-year degree program or certificate equivalent
- Must be a high school graduating senior at time of application
Application Requirements
- Maintain a minimum 3.0 GPA or letter in good standing or completion with a certificate program
- Submit a 300-word essay outlining educational goals, career aspirations, and how the scholarship will help (please include your name in the essay document)
- Provide two letters of recommendation (from school officials, professors, or community leaders) or optional up to three
- Submit annual proof of enrollment and attendance
- You do not have to be part of a family business to apply or receive this award
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Apply Today!
Click the link below to apply. Reach out to Catherine Wygant Fossett, Executive Director, Institute for Family-Owned Business, with any question or if you need assistance, 207.798.2667 or catherine@fambusiness.org.
- Complete application here (you will need to complete the questions in the application and upload your essay and two letters of recommendation). Please be sure to include your name and contact on the essay and letters of recommendation documents before uploading. If you are logged into your Google account you should be able to go in and out of the form. If not, it is best to create your essay and letters and then submit everything at once.
Award decisions are made at the discretion of IFOB’s Board of Directors. The scholarship will be awarded in the form of a check directly to the institution the award winner has determined he or she will attend following proof of enrollment and attendance each year.
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