A quad-polymer composition includes monomers of (a) acrylonitrile, (a) vinylimidazole, (c) methyl acrylate and (d) either acrylic acid or itaconic acid. Such quad-polymer compositions may be used to form fibers (such as by melt spinning) that may then be annealed, stabilized, and/or carbonized to produce carbon fibers. The quad-polymer composition may be used for supercapacitors, lithium battery electrodes once carbonized, and as synthesized, it may be used for wound healing fibers, fabrics, coatings, and films, and anti-bacterial/anti-microbial fibers, fabrics, coatings and films. The carbon fibers formed from the quad-polymer composition may be used for the fiber composites for automobile, aerospace structures, marine structures, military equipment/parts, sporting goods, robotics, furniture, and electronic parts.