The Buchanan Memorial Scholarship was established in 1984 in memory of Doc Buchanan, Sr. and Doc Buchanan, Jr. by their wives, Mrs. Carrie Buchanan and Mrs. Louise Buchanan. Doc Buchanan, Sr. was a member of the original Panola College Board of Trustees and served a total of 30 years before his retirement. Doc Buchanan, Jr. replaced his father on the Board in 1977 and served until his death in May of 1984. He was also a member of the first Panola College graduating class. This scholarship is awarded annually to graduates of Beckville High School.