PARSIPPANY, NJ – October 17, 2024, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The Lincoln Foundation for Education Inc. (LiFE), a nonprofit 501(c)(3) organization founded in 2016, has received a generous donation from Matco Tools, a leading global provider of industry-standard tools and equipment for the auto, diesel, and collision repair industries. Matco Tools has agreed to provide $100,000 each year through 2028 to LiFE to benefit students attending Lincoln Technical Institute (LTI) and training for new careers in these fields. The funds will be made available as scholarships and awards for both new and currently enrolled LTI students.
“We are incredibly grateful to Matco Tools for supporting LiFE to benefit LTI students and their future career aspirations,” says Sheri D. Leach, President of LiFE. “For several years, Matco Tools has supported LTI's career training programs by providing equipment and tools and helping students build in-demand skills for some of the country’s most vital professions. Their donation gives even more students the opportunity to build those skills and enter those professions. Auto, diesel, and collision repair technicians will keep the American economy growing and moving forward.”
LTI has been a national leader in specialized technical training for more than 75 years, with campuses across the country. Students at 12 campuses where Automotive Service Technology, Diesel and Truck Service Technology, and Collision Repair and Refinishing Technology programs are offered will be eligible to apply for these scholarships and awards. Matco Tools supplies tools, computerized diagnostic equipment and more to support future technicians in these fields, where more than 1 million openings are projected nationwide by 2032.*
"At Matco Tools, we believe that investing in scholarships is a powerful way to bridge the skills gap in the transportation industry,” says Laurie Reinbolt, Matco’s Vice President of Sales. “By empowering the next generation of technicians with education and hands-on training, we're not only equipping them with essential skills but also ensuring they have access to premium hand tools that enhance their craft. Together, we’re fostering a future where expertise and quality go hand in hand, driving innovation and excellence in our field."
Each year, $90,000 from Matco Tools’ donation will be set aside for need-based scholarships to help new incoming students manage the investment in their education. The remaining $10,000 will be awarded to current students based on academic performance and skills-based competitions that test their new career proficiencies.
* Career growth projections can be found at onetonline.org for the years 2022-2032 and are current as of October 16, 2024.
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About The Lincoln Foundation for Education Inc.
The Lincoln Foundation for Education, Inc. (LiFE) has a mission to provide financial aid and assistance, grants, scholarships, and awards to those individuals pursuing post-secondary education in technical or vocational education at LTI and other similar institutions. The ultimate objective is to provide industry and community organizations, who wish to support both the growth of individuals and the development of a qualified workforce, the ability to contribute aid to promising students who do not have sufficient financial resources to attend or graduate from a post-secondary vocational institution in a timely manner with minimal educational debt.
LiFE sees higher education as a catalyst, an agent of change for individuals, families, communities, and local economies. We envision a community that recognizes the importance of educational attainment and assures positive outcomes are accessible to all regardless of economic circumstance.
For more information, visit lincolnfoundationedu.org.
About Matco Tools
Founded in 1979, Matco Tools is an award-winning franchise business that provides premium tools, diagnostics equipment, and tool storage to professional mechanics in a wide range of industries including automotive, aviation and marine. With over 1,900 mobile tool truck franchisees across the United States, Canada and Puerto Rico, Matco Tools is focused on growing its footprint with outstanding customer service and thoughtfully designed solutions that help highly-skilled professionals build their future. Learn more at www.matcotools.com.
Attachments
Sheri D. Leach The Lincoln Foundation for Education, Inc. (973) 766-9679 sleach@lincolntech.edu
