SC State receives $11,000 scholarship gift honoring late Sen. John L. Scott Jr.’s legacy of education and public service
The renewed gift continues the John L. Scott Scholarship Fund, which benefits students through the university’s BECT Institute. The contribution reflects Scott’s lifelong commitment to educational equity, economic advancement, and support for historically Black colleges and universities. The SC ICFA donated $10,000 to the fund in 2024.
Scott, a 1975 SC State alumnus with a degree in accounting, served in the South Carolina General Assembly for more than three decades until his unexpected death in 2023. He played a key role in creating the BECT Institute (Business, Environment, Communications and Transportation) at SC State and remained a tireless champion for HBCUs throughout his career.
“Through this named scholarship fund, we hope to expand financial literacy throughout the state of South Carolina,” said Dan Walters, CEO of Credit Central LLC and past president of SC ICFA.
Dr. Barbara Adams, executive director of the BECT Institute, called the scholarship “a meaningful tribute to a man whose life was defined by service, advocacy, and an unwavering commitment to education.”
“This scholarship not only preserves his legacy but alsoq ensures that future generations of students, particularly those from underrepresented and underserved backgrounds, have the opportunity to pursue their academic dreams,” Adams said. “We are very thankful to Dan Walters, Joe Schuebert and other members of the SC Independent Consumer Finance Association for supporting this initiative and encourage others to join them in honoring Senator Scott’s legacy by investing in the future of SC State students.”
The scholarship and financial literacy initiatives reflect a shared commitment between SC State and the SC ICFA to address economic challenges in underserved areas, an issue Senator Scott championed throughout his career. Walters emphasized that the association’s partnership with the university stems directly from Scott’s priorities and vision.
“Sen. Scott had real concerns about the economic and financial health of South Carolina's rural communities. Especially the approximately 22 rural communities in this state that had declined in population of both residents and businesses while the state overall had substantially grown. It is for these common concerns that the SC ICFA partnered with South Carolina State University and has worked closely with Dr. Barbara Adams to promote financial literacy,” Walters said.
The association’s broader partnership with SC State includes the “Money Skills” financial tutorial, an online platform sponsored by the American Financial Services Association. The program features 37 interactive modules covering personal finance, credit, insurance, retirement planning, estate preparation and more. All incoming freshmen in SC State’s College of Business and Information Systems are granted access to the platform.
“These initiatives came by the direction of the late Senator Scott, whose leadership has inspired our efforts to educate and empower young minds across the state,” Walters said.
The association has also created internship opportunities for selected SC State business students. Walters noted the importance of building on the momentum created by the fund.
“While the SC ICFA is committed to funding these scholarships annually at the present level of $10k, it is our hope to expand opportunities to contribute well beyond our own membership,” Walters said.
SC State President Alexander Conyers said the scholarship represents the kind of legacy the university is proud to carry forward.
“Senator Scott was a loyal son of South Carolina State University whose leadership always reflected a deep belief in the power of education to uplift communities,” Conyers said. “This scholarship will continue his life’s work by helping our students gain not only knowledge, but the financial skills and opportunities to thrive beyond the classroom.”
For more information about the BECT Institute, visit www.scsu.edu/bect .
Reach Dr. Barbara Adams at badams@scsu.edu or 803-516-4864.