Established 2004

William Stanley Scholarship


The William Stanley Scholarship is being established by Fostek Corporation to recognize the exemplary and significant contributions made by Mr. William Stanley for the 2004 launch of Fostek Corporation in Bedford, Virginia. William’s efforts were directly responsible for helping breathe life back into a former Rubatex factory that had been shutdown for over 2 years. The factory and the equipment in the facility were in dire need of rebuilding and updating to get the plant running again. William helped build a small team to get this major project started on a tight budget, creating what is now a successful, financially sound, manufacturing business with nearly 100 jobs in Bedford, VA. An ongoing testament to those early foundational days many years ago.

The William Stanley Scholarship was established in January 2023, in memory of Mr. Stanley. This scholarship will be for students at CVCC. The focus of the scholarship is for students pursuing courses in CVCC’s Industry & Manufacturing program, including maintenance training. Jobs in this category are often available at much higher pay rates with room to grow, if desired. Companies value this training very highly.


  • Students must plan to pursue a career in manufacturing or an associated career. An emphasis on equipment maintenance/technical services, electrical, controls, software, and/or process engineering has a very positive influence on the awarding of this scholarship.
  • Candidate will pursue: Associates Degree, Bachelors, or a Certificate Program.

How Scholarships Are Awarded

A committee consisting of Fostek personnel chosen by the President of Fostek will base their selection/ renewal on:
• Successful achievement on completion of course work and/or record of improvement

• GPA @ 2.0 minimum of GED; Retaining minimum yearly average GPA of 2.5 or Passing (if no numerical grade)

• Leadership, Honors, Awards, and involvement in school activities

• Community service and extracurricular involvement will add to the consideration

• Good moral character reputation

• Personal interview (in person and/or by telephone)

• Direct dependents of Fostek employees may be favored in close comparisons

• Scholarship may be rescinded if user is convicted of illegal activities or other extreme conduct, deemed solely by the awards committee, to be detrimental to the spirit of the scholarship in Mr. Stanley’s name.

Award Amount

$1,000.00 per semester, a total of $2,000 an academic school year per individual. (This award must be distributed directly to the educational institution for tuition, books, and/or other school fees/course directed supplies.)

How To Apply

• Use the form below

• Include a letter with the application explaining what your career aspirations are at this point in your life. Include other personal insights and goals that you may wish to include. NOTE: Length of letter determined by the applicant.


Career studies or emphasis: ( if only 1, that is acceptable)
Please attach the following documents to this application form:

You may upload .doc, .docx, or .pdf files.

Member of the Bedford Area Chamber of Commerce since May 17, 2010.