In 1984, the Board of Trustees of The Ferree Foundation established the A. I. and Mabel Ferree Scholarship as a new program of The Ferree Foundation.

Each spring, one Ferree Scholar is chosen from the senior class of each of the eight Randolph County high schools. Students must submit an application in order to be considered for the scholarship.

Asheboro High School
Eastern Randolph High School
Providence Grove High School
Randleman High School
Randolph Early College High School
Southwestern Randolph High School
Trinity High School
Uwharrie Ridge
Wheatmore High School

The scholarship committee at each school selects the scholarship recipient based on academic standing, character, leadership, financial need, and a demonstrated desire to be a useful and well-informed citizen.

Ferree Scholars receive $2000 per year for a four-year course of college study and Scholars attending Community College receive $1500 per year for a two-year course of study. Those wishing to apply for scholarships must fill out the same application as loan applicants, and will be considered for loans if not selected to receive scholarships.

Scholars must maintain a 2.0 GPA and full-time enrollment at
an accredited institution.