The W.D. & Shirley Schafer-Ray Educational Trust Scholarship
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Watch your email or check the application portal to see your application status.
The W.D. Ray & Shirley Schafer-Ray Educational Trust will award over $285,000 in scholarships to local recipients for the 2026 – 2027 academic year. Iowa State Savings Bank will award over $150,000 of those funds with the top individual award ranging up to $10,000. Click the link above to apply directly through the bank.
The Southwestern Community College Educational Foundation will award additional scholarships specifically for students attending Southwestern Community College.
Eligibility Requirements
- Resident of Adair, Adams, Taylor or Union County, Iowa, for the past (3) three, calendar years, at a minimum. Note: leaving the county to attend a college or university does not constitute a change of residency for purposes of this scholarship.
- 2.0 or better GPA in high school (and college if applicable).
- Attend an accredited United States college or university for the upcoming academic year, which requires a high school degree for entry.
- Not related to a member of the selection committee, officers, or directors of The W.D. & Shirley Schafer-Ray Educational Trust.
Application Facts
W.D. “Doug” Ray and Shirley Schafer Ray were born and raised in rural Union and Adams County, Iowa and both graduated from Creston High School. Doug graduated from Iowa State College with a Bachelor of Science degree in Agronomy and Shirley graduated from Creston Junior College and Memphis State University with a Bachelor of Science degree in Education and Master’s degree in Special Education.
After graduation, Doug was commissioned through the Naval Reserve Officers Training Corps and was designated as a Naval Aviator. He retired from the military as a Commander in the US Navy and returned to farm the same farm where he was born. Doug possessed a vast appreciation for agriculture and land preservation. He truly enjoyed farming in his small community.
Shirley was a teacher, military wife, and farmer’s wife. She taught in Iowa, California, and Tennessee. She loved her students! She retired from the Creston Public School District after touching the lives of thousands of students.
Doug and Shirley truly loved the paths they chose in life and hoped to leave a legacy by helping students in their community achieve their own unique educational goals.
The couple achieved just that after a lifetime of hard work and dedication by establishing The W.D. & Shirley Schafer-Ray Educational Trust. Their Trust will provide annual scholarship opportunities and award millions of dollars to students living in Adair, Adams, Taylor, and Union counties.
Iowa State Savings Bank is humbled to serve as Trustee and help the Ray’s continue to make an unbelievable impact on our area students.
You must notify Iowa State Savings Bank's Trust Department immediately if your college or university enrollment plans change from those identified on the application.
Email: RayScholarship@ISSBbank.com
Phone: 641-782-1000
Yes, you can reapply every year you are enrolled in an accredited United States college or university.
Yes, all students that are enrolled in an accredited United States college or university and meet the eligibility requirements can apply.
Yes, students pursing all levels of higher education and meet the eligibility requirements can apply.
A portion of The W.D. & Shirley Schafer-Educational Trust scholarship funds are dedicated to students that are attending Southwestern Community College.
Students enrolled at SWCC are eligible to apply for The W.D. & Shirley Schafer-Ray Educational Trust scholarship through Iowa State Savings Bank and can apply for a second scholarship through the SWCC Educational Foundation portal.
Each scholarship application is considered separately and an award under one does not guarantee an award under the other.
Iowa State Savings Bank is honored to serve as Trustee for The W.D. & Shirley Schafer-Ray Educational Trust.
Email: RayScholarship@ISSBbank.com
Phone: 641-782-1000
