There are two types of scholarships available for Georgetown College students. For some students who excel in the early years of study, the Business Administration and Economics Department awards honor scholarships for the senior year. Outside providers offer school assistance for students at all stages of education.
Georgetown College Honors Scholarships
The Business Administration and Economics Department awards three scholarships: two for students studying Accounting and one for a student studying both Business and English.
The John E. Drake Accounting Award
John E. Drake was a dedicated Christian who served at Georgetown College as an assistant professor of accounting from 1961 to 1980, when he was forced to take early retirement because of poor health. He was faithful to his church, and his love for his students was evidenced by the number of letters he received from them after they left Georgetown College. The John E. Drake Accounting Award was established in 1985 by his wife Darlene.
The purpose of the award is to provide financial assistance to Christian young people dedicated to serving Jesus Christ through the profession of accounting.
The award may be given to any student who meets the following:
• is a junior or will be able to graduate the following year;
• is an accounting major;
• maintains a grade point average of at least 3.0 overall and a 3.5 grade point average in accounting;
• exhibits a Christian lifestyle and service to the school and fellowmen.
Financial need is considered if other qualifications are equal between two or more students.
The Mary Louise Foust Accounting Award
The Mary Louise Foust Accounting Award was established in 1980 by Mary Louise Foust of Shelbyville, Ky. Ms. Foust, a 1938 economics graduate of Georgetown College, earned a law degree at the University of Louisville. She obtained a law license in 1943 and a CPA license in 1953 and was believed to be the first woman in Kentucky to obtain both professional licenses. She was a pioneer in the accounting profession for women in Kentucky. In 1963 she was the first woman to run for governor of Kentucky.
Ms. Foust was the first professional person to be elected as Kentucky’s Auditor of Public Accounts, and held this position for a total of ten years. She earned the reputation of being the most honest public official Kentucky had ever had. She is listed in Who’s Who Among Women in the United States.
Mary Louise Foust was national chair of Georgetown’s second annual Alumni Fund in 1958. In 1983, she established the Foust Artist Series endowment at the college as a memorial to her parents. She was awarded an honorary Doctor of Laws degree in 1988 and inducted into the Georgetown College Hall of Fame in 1996.
The purpose of the award is to provide financial assistance to young people dedicated to the professional principles of accounting who desire to serve their fellow man through that profession.
The scholarship may be awarded to any student who meets the following criteria:
• is a junior or senior majoring in accounting who plans to complete the baccalaureate degree at Georgetown College
• maintains a grade point average of at least 2.5 for the years preceding the awarding of the scholarship.
Primary consideration will be given to scholarship, sincerity of purpose, and service to the school. Financial need will be considered only secondarily.
The Samuel Elliott Cranfill Senior Scholarship
Samuel Elliott Cranfill (1896-1986) was a native of Kentucky and a 1920 graduate of Georgetown College. He was the chairman of the business and economics department at his Alma Mater from 1948-1965 and Professor Emeritus of Economics at the College until his death in 1986. He was a popular professor who was devoted to his work and beloved by his students. He encouraged and challenged his students to develop their full potential and provided a Christian example in good living. This scholarship was established in 1987 in his memory. The scholarship is awarded to a junior each spring at the College’s Honors Day program.
The Cranfill Scholarship was established to provide financial aid to a senior who has demonstrated academic excellence in the liberal arts tradition by combining the disciplines of Business and English.
Recipients of the Cranfill Scholarship must meet the following criteria:
• a combination of English and Business majors and/or minors;
• senior classification for the next academic year;
• an active Christian life-style’
• a cumulative GPA of 3.5 prior to receiving this scholarship.
Outside Scholarship Opportunities
Many students seek scholarships to ease the financial strain of paying for college. There are many organizations that offer scholarship assistance to students based on grades, service, and a variety of other criteria. While we do not know of any comprehensive site that lists all available scholarship opportunities, the website www.BusinessManagementDegree.com/Scholarships offers a large number of possibilities. Interested students may choose to begin their search for additional outside funds there.