Scholarship: Insurance/Risk Management, Accounting, Business/Finance Students DUE April 30th

Surety and Fidelity Industry Scholarship Program (Web Link: http://www.surety.org/?ScholarshipProgram) Deadline April 30

Established in 2003, the Surety and Fidelity Industry Scholarship Program provides awards of up to $2,500 to outstanding minority students to support their studies in the areas of insurance/risk management, accounting, or business/finance and to encourage their consideration of the surety and fidelity industry and surety and fidelity underwriting as a career choice. This program is administered by The Surety Foundation, the educational arm of The Surety & Fidelity Association of America (SFAA).

FAQs (Frequently Asked Questions)

Q: What are the eligibility requirements?

A: To be eligible for the scholarship program, a student must be:

  • A declared insurance/risk management, accounting or business/finance major with an overall and major grade point average (GPA) of at least 3.0 on a four-point scale.
  • A minority student who has satisfactorily completed at least 30 semester hours, equivalent college work including at least 6 semester hours in his/her declared major.
  • Enrolled as a full-time undergraduate student (a minimum of 12 semester hours or equivalent) at an accredited four-year institution

Q: What is the deadline for the scholarship program?

A: All application materials must be received by SFAA by April 30 for the academic year beginning September of that year.

Q: What materials are required for the scholarship program?

A: Applicants must complete a Surety and Fidelity Industry Scholarship Program for Minority Students application and Financial Aid Worksheet, which is included with the application form. Also, applicants must submit an official academic transcript which must contain their fall semester grades for the academic year in progress. In addition, applicants must submit letters of recommendation from a faculty member and from a professional or personal reference outside of the educational institution, and complete the essay requirements as outlined in the application form.

Q: What schools are eligible?

A: All regionally- or nationally-accredited four-year institutions.

Q: Are you still eligible if you are transferring from a 2-year school to a 4-year school?

A: Yes, but you must include a copy of an acceptance letter to a four-year school and the financial aid officer at the school you will be attending must complete the Financial Aid Worksheet.

Q: Are part-time students eligible?

A: No, you must be a full time student.

Q: Under the Surety and Fidelity Industry Scholarship Program, who are considered minorities?

A: For the purpose of this program, SFAA defines minority students as those of Black, Native American/Alaskan Native, Asian/Pacific Islander, or of Hispanic ethnic origin. All applicants must be U.S. citizens.

Q: Is the scholarship renewable or is it only for one year?

A: Yes, the scholarship is renewable if the student maintains his or her high level of achievement during the initial scholarship school year. However, to be considered, the student must reapply for a renewal and must commit to a minimum of six weeks of internship with a company in the surety/fidelity industry during the summer prior to the renewal school year.

Q: How can application forms be obtained?

A: You can download a PDF version of the application form by going to http://www.thesuretyfoundation.org. To view and print PDF documents, you must use Adobe Acrobat Reader. To download a free copy of the Adobe software, go to the Adobe website. Or contact: The Surety and Fidelity Industry Scholarship Program for Minority Students, The Surety Foundation, 1101 Connecticut Avenue, NW, Suite 800, Washington, DC 20036, (202) 463-0600, ext 638.

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