How it all Started
The Eugene B Cooper Student Loan Fund was begun in the early 1970s with a large donation by Eugene B. Cooper. His efforts attracted other generous gestures and the Fund was on its way to serving youth throughout the Winchester area. Over the years, the Kiwanis Club of Winchester donated annual amounts to the Fund until its revolving fund tipped the scales at $200,000. A group of Kiwanis members serve as Directors to handle the organizational, financial affairs and lending process of the Fund.
How It Works Now
Beginning January 1, 2017 the Eugene B Cooper Loan Fund made a major dedision about how it could best handle its stated purpose. Due to the major effort required to vet loan applicants and continue to service loans, the Board of Directors established two Endowment Funds: The E B Cooper Student Scholarship Fund through both the Frederick County Educational Foundation and The Winchester Education Foundation. The Endowments established will be used to grant scholarships to qualifying students at the County High Schools and at the Handley High School. The scholarships will be paid from earned funds only in order to maintain the initial principal established. Applicants must submit scholarship applications through the Educational Foundations – not through this Loan Fund. Existing loans will be serviced, but no new loans will be made.
All applications for scholarship must be submitted through the High School where the student attends. Scholarship Guidelines were written into the endowment agreements with the Educational Foundations and will be provided by the Foundations. The Foundations screen applicants and make the selections independent of the E.B. Cooper Fund.