The Ernie J. Reyes Memorial Scholarship Program is a wonderful opportunity for college-bound kids of the NAHREP community. It is scholarships like these that enable students to attend college without incurring massive amounts of debt after graduation -debts that often keeps graduates from putting down a deposit on their dream home.

What is the Scholarship?

The scholarship is open to any student whose parent or grandparent are members of the National Association of Hispanic Real Estate Professionals. They must be an active member with a paid one-year membership. Qualifying students can apply for the scholarship for the current year by June 30, 2016.

Applicants may receive up to $5000, which are presented directly to the college or university. The money is made available through the Felix DeHerrera Living Trust.

Requirements for this scholarship are as follows:

  • Minimum of 2.5 GPA average
  • Must be enrolled in an Accredited College or University
  • School transcripts required along with a completed application

Students can submit their applications at http://felixdeherreralivingtrust.org or email questions they have to felixd@goalterra.com. Notifications of the award are provided by August 1, 2016. (The Ernie J. Reyes Memorial Scholarship Program)

In addition to receiving funds to help with the cost of higher education, it is an honor for any young man or woman to be approved for this scholarship because of the impact of Ernie J. Reyes on the Hispanic community. Reyes was the co-founder of the NAHREP, which now has more than 20,000 members with a total of 35 chapters around the nation. He was the chairman and executive director of the NAHREP Foundation, which is an affiliate organization. The goal of the organization is to work with the Hispanic community to maintain sustainable homeownership.

The focus is on education, developing the community and encouraging financial literacy. The scholarship is just one result of Reyes’ efforts to enhance the future of the Hispanic community. (About Ernie J. Reyes)

Financial literacy and lowering debt is key as the minority homeownership rate continues to drop in the United States. NAHREP is extending its reach to the youth of America in the hopes that it will be slightly less challenging for the recipient of this award to go on to buy a home to raise his or her family in.

A More Promising Future

Scholarships like the Ernie J. Reyes Memorial Scholarship Program benefit students who want to go to college but cannot afford the costs. Their other alternatives may be to take on student debt or to forego higher learning altogether.

Today’s young adults who are entering the workforce are doing so with more student debt than previous generations. The amount of debt they are carrying will limit their ability to qualify for homeownership and many other opportunities. Careers after college will not provide enough income to support the payments along with a mortgage payment.

Many would-be homebuyers will be unable to qualify for mortgages to pay for a home because of their debt-to-income ratio, which is mostly impacted by their student debt. When they lose out on the ability to buy a home, they not only fail to obtain satisfactory housing but to reduce their financial stability and level of wealth.

Graduates often move back home to live with family because they cannot afford to be on their own. They are unable to set aside money for a down payment or even other major purchases, such as an automobile.   

The impact is not only felt by the students and their families but by the country at large. With fewer financially stable citizens, it leads to economic instability for entire communities and for the entire nation. (The long-term impact of student-loan debt, March 2014)

While dealing with current student loan debt is an issue all its own, preventing future generations from incurring this debt in the first place is another challenge. Scholarships provide much-needed funds for those who need assistance to go to college. Minorities who may not qualify for all of the other available scholarships must learn about programs that are in existence specifically for them. Helping more people, especially minorities, go to college will have a positive impact on the nation as a whole.

If you or your family members qualify for this fantastic opportunity, I suggest that you take your life into your hands and apply now, because your power is now.  Tomorrow’s opportunities to improve your life or help finance your education may change.   The Power Is Now!

Are you looking for your dream home on a budget? Call me at 800-401-8994 x 708 or email me at eric.frazier@thepowerisnow.com to chase your dreams and build a better life for you and your family. Your Power Is Now!

Eric Lawrence Frazier, MBA

President and CEO

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