The John E. and Reba C. Pace Scholarship was formed by their daughters Virginia Pace Lyle and Rebecca Pace Parce in memory of John E. and Reba C. Pace.

The son of James Oliver Pace of Logansport, Louisiana, Mr. John E. Pace grew up learning the hardware and lumber business from his father. After his marriage to Reba Childress of Joaquin, Texas, the couple moved to Carthage in 1937 where he owned and operated Pace Hardware until 1974. 

Mr. Pace was a member of the Board of Directors of First State Bank & Trust from 1951 to 1993. He was then elected to the position of Director Emeritus in January 1994. He was a partner along with John Neal and Ernest Powers in Carthage Milling Company and PNP Cattle Company. He loved his land, timber, and cattle on his farms and found his solace there.

Mr. and Mrs. Pace were both very involved in the Carthage community. They were especially active members of Central Baptist Church, and Mrs. Pace was a longtime member of the Carthage Book Club.

The John E. and Reba C. Pace Scholarship will be awarded annually to a Panola College student pursuing a degree in business, forestry, or land management. The scholarship will be awarded based on academic merit. The selection of the recipient will be made in the spring each year.