FORT KENT — A University of Maine at Fort Kent business major is among the most recent recipients of a Maine Higher Education Assistance Foundation scholarship.

Mary Rossignol of Washburn received a $2,000 check from Joseph Pietroski, executive director of the Maine Bankers Association, during a ceremony at UMFK. The MBA administers the foundation.

The foundation was established in the 1950s by banks, businesses, community organizations and individuals to support a guarantee fund for student loans.

To continue the founders’ original intent, the foundation’s trustees and the MBA’s board of directors in 1990 began a scholarship program funded by the return of the original loan guarantee funds. Every two years, the trustees select four to eight Maine colleges and universities to receive scholarships.

All recipients are chosen by the participating schools and must be in their second, third or fourth year of college; have graduated from a Maine high school; be majoring in a business-related subject; be in good academic standing; and have financial need.

In the last two years, the foundation has awarded $32,000 in scholarships. It recently awarded another $16,000 to eight students. Receiving scholarships this year are students from UMFK, the University of Maine at Machias, the University of Maine at Orono, the University of Maine at Farmington, the University of Southern Maine, Husson College, Thomas College and St. Joseph College.