The Stephen Bufton Memorial Educational Fund (SBMEF) is the national scholarship trust of ABWA. Its objective is to help members and other women achieve their business and/or professional goals through education. SBMEF is named in honor of Stephen Bufton, son of ABWA founder Hilary A. Bufton, Jr., and Ruth H. Bufton.

There are several forms of financial assistance available through SBMEF. Each has defined guidelines, eligibility requirements and chapter requirements that vary depending of the type of SBMEF scholarship. However, only female citizens of the United States of America are eligible to receive any of these types of assistance. ABWA members or non-members also may apply for these scholarships.

The Outright Grants Program offers grants for tuition, books and fees up to a maximum amount of $1,200 to women who are seeking funds to be used at the junior level at an accredited college or university in the U.S. An ABWA chapter must sponsor the applicant for an outright grant and have conributed to the fund in the prior award year.

National Graduate Level Scholarships include the following five: Hilary A. Bufton Jr. Scholarship, Ruth H. Bufton Scholarship, President's Scholarship, Glorine Tuohey memorial, and Corporate Scholarships.

The Hilary A. Bufton Jr. Scholarship and Ruth H. Bufton Scholarship were created in recognition of the Buftons' special contributions in founding and directing the Association. These $10,000 graduate-level national scholarships are awarded annually, in odd-numbered years as the Ruth H. Bufton Scholarship and in even-numbered years as the Hilary A. Bufton Jr. Scholarship for 2 years, $5,000 each year. The SMBEF trustees selecct the field of study for these scholarships.

The President's Scholarship Program offers financial assistance up to a maximum amount of $3,000 for women studying at the graduate level in a discipline also selected by the SBMEF trustees.

The Glorine Tuohey Memorial Scholarship was created to honor the memory of ABWA's longtime enrollment director. This $3,000 scholarship is awarded annually to a graduate-level student in a field of study specified by the SBMEF trustees.

Corporate Scholarships are additional $5,000 graduate-level scholarships that are awarded as received. The sponsor may select the field of study for these scholarships, and the SBMEF trustees selecct the reccipients.

The Business Skills Tuition Reimbursement Program is designated to encourage workingwomen to keep up with the fast-paced, ever-changing workplace environment. This program covers accredited courses, which might be a one-time desktop publishing course or a series of real estate licensing classes. Grants of one-half of the tuition of a course up to $500, with a minimum of $50 are available depending on each chapter's contribution. Chapters must sponsor the applicants for this type of SBMEF financial assistance and have contributed to SBMEF in the prior award year.