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Cobalt Mortgage, one of the largest privately owned mortgage banking firms in the Pacific Northwest, has partnered with Scholarship America’s Dollars for Scholars program to establish the first corporate chapter in the nation. Scholarship America started as a movement in 1958, became a national organization in 1961, and now in its second half-century is on its way to becoming a widely recognized nonprofit. Celebrity Katie Couric endorses Scholarship America, donating all the profits of her new book, "The Best Advice I Ever Got," toward the goal of supporting students. Elements such as Scholarship America’s solid reputation, having received a four-star ranking by Charity Navigator for nine consecutive years, and an A+ rating from the American Institute of Philanthropy’s Charity Watch, assured the Cobalt management team of the benefits of this alliance.
“We are honored to work with Scholarship America’s Dollars for Scholars program to promote higher education for students in our communities,” said Keith Tibbles, President and Co-founder of Cobalt Mortgage. “Rising costs are closing the doors to post-secondary education for many talented and deserving students. My team believes in the long term ‘pay it forward’ benefits of showing students that the community cares about their future. As a key component of our corporate citizenship initiatives, our active efforts to fund and volunteer in this foundation demonstrate our dedication to the success of local students.”
“Cobalt Mortgage is demonstrating a phenomenal commitment to students through the development of this chapter,” said Lauren A. Segal, President and CEO of Scholarship America. “It’s also exciting that Cobalt’s employees make up the chapter’s leadership and volunteers, and that the scholarships are supported through both employee and corporate contributions. We’re thrilled to have them join our family.”
In August 2011, Cobalt Mortgage Dollars for Scholars sent out $26,000 in scholarships to 26 students in locations from Seattle to Eatonville, WA and from Pleasant Hill, OR, to Scottsdale, AZ.
The most recent phase of their plan is the Affiliate Partner Opportunity that launched in December 2011. It provides the opportunity for individuals and businesses, in communities where Cobalt Mortgage has branch offices, to jointly create scholarships. Cobalt Mortgage Dollars for Scholars simplifies and streamlines the process, working with partners who have a passion for education. Funds have been set aside to co-fund or match the scholarships established by Affiliate Partners providing a larger, more impactful scholarship for each recipient.
The first Affiliate Partners to officially create and fund scholarships in their names are Ken Reid of Genworth Mortgage Insurance in Lake Forest Park, WA, and the Windermere Northwest office in Seattle, WA. These first 2012 scholarships have been matched 100 percent by Cobalt Mortgage Dollars for Scholars. “This is an opportunity for me as an individual to promote student access to higher education,” said Ken Reid, when approached by Jaimie Garrett, President of Cobalt Mortgage Dollars for Scholars. He went on to comment, “education is such an important tool for our youth, from both a business and community standpoint, that we all have to do our part to make a difference.”
Janine Fugate, Scholarship America
Cobalt Mortgage Dollars for Scholars
11255 Kirkland Way, Suite 100
Kirkland, WA 98033
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About Cobalt Mortgage Dollars for Scholars
On August 31, 2010, Cobalt Mortgage founded and initially funded the first corporate chapter of Dollars for Scholars in the United States. Cobalt Mortgage Dollars for Scholars, a 501c3 nonprofit foundation, has a mission to support communities and to pioneer corporate citizenship by providing post-secondary scholarships. Rising costs are closing doors to higher education for many in our community, and scholarships from corporations, individuals, and community partnerships can make a strong, collective statement about the importance of education beyond high school.
About Cobalt Mortgage
Founded in early 2002, the firm has a decade-long reputation of responsible lending. One of the largest privately held mortgage-banking firms in the Pacific Northwest; Cobalt has offices through the western United States, including Washington, Oregon, Nevada, Arizona, Colorado, and California. Cobalt Mortgage has provided financing to thousands of homebuyers. With strong leadership provided by co-founders Keith Tibbles and Ernie Gehre, the company is dedicated to ethical lending practices, community philanthropy, and personal integrity. As corporate supporters of the Boys and Girls Club, and Cobalt Mortgage Dollars for Scholars (a program of Scholarship America®) the company makes a positive impact in the communities where they operate.
Cobalt Mortgage is licensed in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah, and Washington. More information is available at www.cobaltmortgage.com.
About Scholarship America
Scholarship America is a national education service organization that mobilizes support for students getting into and graduating from college. Scholarship America has distributed more than $2.5 billion in scholarship assistance to more than 1.7 million students over the last 50 years. Scholarship America’s programs, which include Dollars for Scholars®, help fund both entry-level and multi-year scholarships, as well as emergency financial grants. More information is available at scholarshipamerica.org.
Scholarship America’s Dream Award is a renewable scholarship fund targeted toward completion. These annually-increasing awards will be given to students selected from across the nation who are entering their second year of education beyond high school.
Scholarship America's blog, Success By Degrees, covers items of interest to parents, volunteers, educators and anyone interested in the big issues surrounding education, financial aid and postsecondary success. You'll find policy announcements, news releases and more, every week!
Nearly 1/4 of the U.S. population owes a collective $700 billion in student loan debt. We are committed to helping more students graduate from college with less debt. A gift of just $1 a day -- for a week, for a month, or for a year -- can help ensure that students are able to achieve their goals.