March 21, 2016
Two South Jersey nonprofits are partnering to provide every student in Salem City, Salem County, with a head start on college savings.
The Forman S. Acton Educational Foundation announced Monday that it has deposited $275,000 into the Acorn Fund, which will be administered by the Community Foundation of South Jersey to establish college savings accounts for every child in the city. About 1,200 students will be eligible to enter immediately, and future students will also be enrolled in the program over time.
By the end of 2016, the Forman S. Acton Educational Foundation plans to funnel nearly $900,000 in funding for grants, scholarships and similar education initiatives benefiting Salem City’s youth.
The Acton foundation was launched in 2014 through the will of late-Salem City native Forman S. Acton, a distinguished computer scientist, engineer and educator who wanted to give back to his area's youth, the Foundation said in a press release.
The hope is that the Acorn Fund will provide an incentive and vision for Salem students to pursue higher education opportunities as well as to be looked at as a model for other communities throughout New Jersey and beyond.
For more details, visit www.FormanScholars.org or call 844-4-FORMAN (436-7626).