FORT WORTH, Texas--(BUSINESS WIRE)--Feb. 23, 2006--First Command Educational Foundation has announced that its hundreds of thousands of dollars in scholarships are now available to any qualifying undergraduate student, not just to children of the military.

"We are proud to continue helping military families and extremely pleased to be able to help even more young adults pursue their educational goals," said Vickie Mauldin, foundation executive director.

Carroll H. Payne, a retired Air Force lieutenant colonel, dedicated himself to providing financial planning advice and products to military families in 1958 with the founding of the firm known today as First Command Financial Planning, which announced last year that it would open its market to all civilians. In 1983, he established the educational foundation to provide college scholarships to the children of active duty, retired and deceased U.S. service members.

In 2001, First Command Educational Foundation became an independent, non-profit entity with an expanded mission to significantly improve the short-and long-term personal financial success of U.S. military members through scholarships, educational programs and financial presentations. Last year the foundation awarded more than $176,000 in scholarships to college-bound high school students and selected ROTC cadets. It has awarded more than $3 million since it was founded in 1983. This year the target audience for the foundation's programs has expanded to include civilians as well as military families.

The Payne family has donated a total of $700,000 to the foundation during the past 12 months. The most recent donation of $500,000 is the largest monetary gift in the history of the 22-year-old foundation. The contribution was added to the organization's permanent scholarship endowment, the Carroll H. Payne Scholarship Fund. The foundation's goal is to grow the scholarship endowment to $2.5 million over the next few years.

For more information regarding First Command Educational Foundation, go to www.firstcommand.org, or e-mail edufoundation@firstcommand.org.

Copyright Business Wire 2006

First Command Educational Foundation

First Command Educational Foundation

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