Forman S. Acton Educational Foundation Announces Extension of Application Period for Graduation Bonus

After receiving a number of applications from students and graduates over the summer, the Forman S. Acton Educational Foundation is thrilled to extend the application period for its Graduation Bonus Award, which provides up to $1,000 to eligible Acorn Fund account holders. Students who graduated high school in 2016, 2017 and 2018 are eligible to apply.

“When we offered the Graduation Bonus Award back in the summer, we did so to celebrate all those Acorn Fund account holders who put in the hard work and dedication to graduate from high school. Now, we want to ensure we’re reaching even more graduates who were a part of the Acorn Fund’s early years, so we’re excited to extend the application period!” said Kathryn Markovchick, President of the Forman S. Acton Educational Foundation.

Students who have Acorn Fund accounts and graduated from high school in 2016-2018 may apply for a one-time Graduation Bonus Award and receive an additional contribution to their Acorn Fund account. Once approved, those who graduated in 2018 and 2017 will receive $500, and 2016 graduates will receive $1000! The 2016 graduates, who enrolled as seniors during our very first year of offering college savings accounts to Salem students, are receiving a larger award because they did not have the same opportunity to get further contributions into their Acorn Fund accounts as students in earlier grades get now.

Acorn Fund graduates who want to use their Graduation Bonus Award to pay for college expenses in the 2019 spring semester must apply by October 31, 2018.

To be eligible for a Graduation Bonus Award, applicants are required to:

  • Complete the online Graduation Bonus Award Application HERE.

  • Upload a copy of their final high school transcript, which is available from their high school guidance office.

  • Complete or have already completed five hours of community service and document this service in the application.

Community service is volunteer work that is done without pay to help people within your local community. It can be performed in a local church, school, business, non-profit organization or neighborhood. This work can be done to help children, senior citizens, animals, the environment, the hungry and/or homeless, just to name a few. In the application, you will be asked to describe the community service you provided during the most recent academic year.

For those who have not yet performed five hours of community service, there is still time to complete this requirement before applying.

Since the Forman Foundation’s inception, more than 900 Acorn Fund college savings accounts have been opened, and $475,000 has been allocated to create those accounts to help children and families currently living or attending public school in Salem City begin to save for college. So far this year, 26 graduates have requested over $50,000 from their Acorn Fund accounts to pay for college expenses at 15 colleges within the United States and Central America.

For more information on the Graduation Bonus, click here. Anyone with questions should contact the Forman Foundation at (844) 4-FORMAN,, or by visiting the Foundation’s new office located in the Fenwick Plaza at 205 E. Broadway in Salem, New Jersey.


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