Paying for college isn’t easy for most students, and many take out loans to pay for their education, often leaving them with debt that will take years to pay back.
This had weighed on Tina Lopez’s mind when she was applying to schools. Now a marketing analyst in the product marketing division at CME Group, Lopez grew up loving numbers and wanted to study finance; however, to get a degree without a crushing debt burden, she had to be shrewd financially.
Lopez opted to attend Wilbur Wright College, a community college that’s part of the City Colleges of Chicago, rather than a four-year university to save money. It was a smart decision in more than one way because that’s how she discovered the Star Scholarship, which helps students transition to a four-year institution. Since 2017, CME Group has partnered with the Mayor's office to support the Star Scholars program.
When Lopez transferred to the University of Illinois at Urbana-Champaign, she applied for and received the CME Group Foundation Scholarship, which allowed her to graduate college debt-free in 2022.
Since its launch in 2019, the CME Group Foundation has awarded more than $4.3 million in scholarships to over 120 students at 12 partner colleges and universities in the U.S. Following an update to the program requirements in 2024, the CME Group Foundation Scholars Program now awards up to $20,000 to first-generation college students from low-income backgrounds who are studying in the fields of finance or computer science and are current or rising undergraduate sophomores, juniors or seniors; the award is renewable for three years. The program adds 15 or more new students a year, with approximately 35 students in the program annually.
While many scholarships help freshmen start college, the CME Group Foundation Scholarship program works to ensure rising sophomores and above can complete their degrees and access career opportunities.
The Foundation’s scholarship was “very pivotal in terms of not only helping me from a financial standpoint, but also the connections that I made at CME Group,” Lopez says. “CME Group has been with me through every single transition stage.”
Some students may be able to afford freshman year, but struggle financially to stay in school, which was the case for Jada Aduda. Receiving the CME Group Foundation Scholarship was the difference between quitting school before sophomore year for a lack of funds and graduating with a finance degree from Loyola University Chicago in 2022.
“It honestly changed the trajectory of my life,” Aduda says, now a senior analyst on the strategy and business development team at CME Group. She added that the scholarship enabled her to not only pay for college, but also unveiled different job opportunities.
The Importance of Mentorship
Aduda knew she always wanted to go to college, and her parents stressed the need for post-secondary education to find a secure job. She picked finance as a major because she was interested in the subject and figured that getting a job in the field could lead to a higher earning potential right out of college.
But it wasn’t easy to pursue her goal, she admits. “In my classes, most of the time I was the only person that looked like me,” she says. It was tough to find peers and feel like she belonged in her chosen field, so she actively sought mentors and other people to guide her throughout her collegiate career.
For Lopez, getting the scholarship helped her focus on her studies, rather than working part-time jobs to pay for school and living expenses. The money to pay for her education was critical, but so was the networking with fellow scholarship recipients, many of whom had a similar background and drive to succeed.
After hearing this type of feedback, the CME Group Foundation Scholars Program introduced formal mentoring in 2024. Each new scholar has the option to be matched with a CME Group employee, with pairs encouraged to meet regularly to talk about academic and professional progress. Both Aduda and Lopez volunteered for the program as soon as the opportunity arose.
“I signed up to mentor current scholars because I recognized the gap, having once been in their shoes,” said Aduda. “Having access to a scholarship like this along with a mentor is truly the great equalizer for students in need of not only financial support, but also career guidance.”
Lopez also saw the mentorship program as a way to give back to her community.
“I’ve always had great mentors to help me get to where I want to be, and I want to ensure I can do that for the next student that went through a similar time as I did, ” she said.
Resources to Help
Both Lopez and Aduda found out about the CME Group Foundation Scholars Program through collegiate advisors. They credit their success to being persistent and asking for help, even if it’s intimidating to reach out.
Lopez says she’s found that people are “more than willing to help, but you have to have the confidence to ask.”
For her, finding the right people took effort. “I think the biggest challenge that I've had is figuring out who I need to talk to, to get to where I need to go,” Lopez says.
Aduda concurs, and says it can be hard to persevere, but she advocates to others entering college to not let that be a barrier.
“The resources are out there to help you – I was super persistent in searching for the resources I needed to be able to stay in school, so don't be afraid to ask for help.”
The CME Group Foundation Scholars program application is open until March 2, 2026. For more information about eligibility requirements and to submit an application, visit Scholarship America.
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