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Applications Open for 2023 SEMA Loan Forgiveness Program

By Ashley Reyes

Loan ForgivenessEach year, SEMA helps employees of member businesses pay off student loans as part of the SEMA Loan Forgiveness program. The 2023 application period is now open and runs through March 1.  

What is the SEMA Loan Forgiveness Program?

The Loan Forgiveness Program provides funds to help selected current employees of SEMA-member businesses pay off education loans from a college, university or career technical/trade school. Unlike the SEMA Scholarship Program, which assists current students, the Loan Forgiveness Program focuses on recent graduates who are actively working for SEMA-member companies to help lessen the burden of education loans post-graduation.  

What are the eligibility requirements?

  • Currently employed by a SEMA-member business.
  • Demonstrate passion for the automotive hobby and career.
  • Possess a degree or certificate from a college, university or career technical/trade school in the United States.
  • Have a minimum of $2,000 in outstanding student loans.

What are the benefits of being selected?

Beyond the impact that the monetary awards provide, the SEMA Loan Forgiveness program is a passion-driven program aimed to help SEMA members further their careers in the automotive and performance parts industries. SEMA members and program recipients also have access to resources through SEMA Education and the SEMA Career Center, and in-person networking opportunities at the SEMA Show.

What is the application process?

Interested applicants can review and complete the scholarship application at before the March 1 deadline. If you have children, friends or know someone who may qualify, we encourage you to share this opportunity with them.