ArcBest Partners with Scholarship America to Offer Company's Inaugural Employee Dependent Scholarship Program

Rhea-AI Summary

ArcBest (Nasdaq: ARCB), an integrated logistics company, has partnered with Scholarship America to launch its first Employee Dependent Scholarship Program. This program provides recipients with $2,000 per academic year, starting from the 2024-2025 school year. Ten students were selected for the inaugural scholarships based on academic performance, leadership, community involvement, educational goals, and financial need. The program is open to dependent children of full-time employees who have worked at ArcBest for at least three years. Scholarships can be renewed annually, allowing recipients to earn up to $8,000 over four years, provided they maintain a 2.5 GPA and complete 24 semester hours each year. The initiative aligns with ArcBest's core value of growth and its Philanthropic Pillar of Education, supporting local and higher education to develop the future workforce.

Positive

• ArcBest's partnership with Scholarship America strengthens employee loyalty.
• Scholarships of $2,000 per academic year provide significant financial support.
• Program eligibility includes a broad range of dependents, increasing inclusivity.
• Scholarships are renewable, up to a total of $8,000, enhancing long-term support.
• The initiative is aligned with ArcBest's core values and philanthropic goals.
• Ten inaugural recipients were chosen, demonstrating a strong start for the program.

Negative

• The scholarship program excludes dependents of department directors and above.
• Requires a minimum cumulative GPA of 2.5, potentially limiting some applicants.
• Only 10 out of 60 applicants were selected, leaving many without support.

ArcBest invests in its employees and their families, awarding scholarships for higher education

FORT SMITH, Ark.--(BUSINESS WIRE)-- ArcBest^® (Nasdaq: ARCB), an integrated logistics company, today announced its partnership with Scholarship America^® to offer the company’s first Employee Dependent Scholarship Program, providing recipients $2,000 per academic year. Applications for the 2024-2025 school year opened in January 2024, and 10 students were selected to receive ArcBest’s inaugural scholarship funding based on their academic record, leadership and participation in school and community activities, statement of educational and career goals, and financial need.

"We're excited about partnering with Scholarship America to continue investing in our employees and their children through financial support for higher education,” said Erin Gattis, ArcBest chief human resources officer. “One of ArcBest’s core values is Growth, and it focuses on growing our people and our business. That extends to our employees’ homes and communities. Through this new partnership, we’re helping students access the education they want and empowering them to achieve their career aspirations.”

The ArcBest Employee Dependent Scholarship Program is available to dependent children of full-time employees in the United States, Puerto Rico and Canada who have worked for the company at least three years. Dependent children are defined as biological, adopted, foster children, stepchildren, legal wards, or children of a person standing in loco parentis under age 24 as of the application deadline date. The program excludes dependents of department directors and above.

Eligible applicants include high school seniors, students in their final year of upper secondary school or CEGEP (College of General and Professional Teaching) studies, upper secondary school graduates enrolling in college for the first time, and students who have completed undergraduate courses while in high school or upper secondary school. Students must have a cumulative GPA of 2.5 or higher and plan to enroll in a full-time undergraduate study at an accredited two- or four-year college, university or vocational-technical school.

Recipients can earn up to $8,000 by renewing their scholarship each academic year for up to three years or until a bachelor's degree (or equivalent) is completed. Students must maintain a 2.5 GPA in full-time course studies and complete at least 24 semester hours during the preceding academic year.

"It means a lot that ArcBest is so interested in its employees and their families that the company would offer this scholarship," said Eleanor Gordon, an ArcBest scholarship recipient. “I am very thankful to be selected as a recipient as I begin my college career and continue growing my education.”

The ArcBest Employee Dependent Scholarship Program was created in response to employee feedback and aligns with our Philanthropic Pillar of Education, which guides how ArcBest invests in local and higher education to help grow the current and future workforce. More than 60 students applied for the 2024-2025 scholarship.

Scholarship America is the nation’s largest designer and manager of scholarships and other education support programs for corporations, foundations, associations and individuals. The Scholarship America evaluation team chose ArcBest’s first 10 recipients.

2024-2025 Scholarship Recipients:

• Aubrey Taylor, University of Kansas
• Clare Allison, Edgewood College
• Eleanor Gordon, University of Texas at Austin
• Emily Lockey, Rochester Christian University
• Hannah Stanley, Atlanta Technical College
• Jami Kurth, Carroll University
• Lillian Murray, Folsom Lake Community College
• Liset Vallejo, Friends University
• Mary Mungroo, The College of New Jersey
• Michelle Fernandini, Florida State University

Learn more about ArcBest's Employee Dependent Scholarship Program.

ABOUT ARCBEST

ArcBest^® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 15,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company is developing ground-breaking technology like Vaux^™, one of the TIME Best Inventions of 2023. For more information, visit arcb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529906256/en/

Autumnn Mahar

amahar@arcb.com

479-494-8221

Source: ArcBest

FAQ

What is the ArcBest Employee Dependent Scholarship Program?

It is a scholarship program providing $2,000 per academic year to dependent children of full-time employees, renewable for up to four years.

Who is eligible for the ArcBest Employee Dependent Scholarship Program?

Dependent children of full-time employees in the US, Puerto Rico, and Canada, who have worked at ArcBest for at least three years.

How much financial support does the ArcBest Employee Dependent Scholarship provide?

Recipients receive $2,000 per academic year, renewable up to a total of $8,000.

What are the renewal requirements for the ArcBest scholarship?

Recipients must maintain a 2.5 GPA and complete 24 semester hours each year.

When did applications for the 2024-2025 ArcBest scholarships open?

Applications opened in January 2024.

How many students were selected for ArcBest's inaugural scholarship program?

Ten students were selected based on academic and community involvement criteria.

What organization is ArcBest partnering with for the scholarship program?

ArcBest is partnering with Scholarship America.

Which universities are ArcBest scholarship recipients attending?

Recipients are attending various universities, including University of Kansas, University of Texas at Austin, and Florida State University.