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April 29, 2025

New scholarship for students planning a career in Maine

By Tina Fischer

The Institute for Family-Owned Business will offer a scholarship for high school seniors who plan to pursue a college degree at a Maine-based institution. 

The IFOB Maine Futures Scholarship will provide $2,500 per year for up to four years for students pursuing either a two- or four-year degree program or an equivalent certificate at any college in the state, including vocational schools. 

photo of catherine wygant fossett
File photo /Tim Greenway
Catherine Wygant Fossett

To be eligible, students must have a grade point average of 3.0 or higher and demonstrate a commitment to business leadership and community impact.

Students are not required to own or work in a family business to apply for the funding. 

The scholarship “is more than just financial aid, it’s an investment in the future of Maine’s economy,” said Catherine Wygant Fossett, executive director of IFOB, which is based in Portland.

“Our goal is to empower students who are dedicated to entrepreneurship and family business leadership, helping them build a strong foundation for their careers while giving back to their communities,” she added.

More information 

Applications are now open and must be submitted by May 30. Those interested in applying can find out more about the scholarship and apply here. 

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