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The application program will be available again in December. Please return then to view the updated Eligibility and Awards for the next academic year! If you are an applicant who would like to discover more scholarship opportunities you might qualify for, please continue to the Scholarship America Hub and sign up!

Cboe Empowers Scholarship
Application status: Closed

Chicago Community Trust, as Trustee of the Cboe Empowers Fund, has established a scholarship program to assist current high school seniors and current undergraduates who reside in and attend (or attended) high school in Chicago, Kansas City (MO or KS) or New York.

The program is administered by Scholarship America®, the nation’s largest designer and manager of scholarships and other education support programs for corporations, foundations, associations, and individuals. Eligibility for individual programs is determined at the sole discretion of the sponsor, and eligible applications are reviewed by Scholarship America’s evaluation team.

Applicants to the Cboe Empowers Scholarship must:

  • Be a United States Citizen
  • Self-identify as Black or African American and/or Hispanic or Latino
  • Reside in one of the following cities*:
    • Chicago, IL
      • South or West side
    • Kansas City, MO
    • Kansas City, KS
    • New York City, NY
      • Must reside in Queens, Brooklyn, Manhattan, The Bronx, or Staten Island
  • Be a current high school senior at a Public or Private High School or current undergraduate who graduated from a Public or Private High School in one of the following cities:
      • Chicago, IL
        • South or West side
      • Kansas City, MO
      • Kansas City, KS
      • New York City, NY
        • Must reside in Queens, Brooklyn, Manhattan, The Bronx, or Staten Island
  • Plan to enroll in full-time undergraduate study, in the United States, at an accredited two- or four-year college, university or vocational-technical school for the entire upcoming academic year
  • Have a minimum grade point average of 2.3 on a 4.0 scale (or its equivalent)

*Suburbs of these locations are not eligible. SAI will determine location eligibility based on the student’s self-declared permanent home address for high school seniors or high school address for current undergraduates.


Up to ten full-ride awards will be granted as follows:

  • Five full-ride awards will be granted to the South or West side of Chicago, IL students
  • Three full-ride awards will be granted to Kansas City, MO or Kansas City, KS students
  • Two full-ride awards will be granted to the five boroughs of New York City students

Awards are intended to cover the entire cost of attendance (COA): tuition, fees, books, supplies, room, and board less other granted aid. Award amounts will be determined based on the cost of attendance as determined by each recipient’s college or university, and supplies. Recipients must submit their cost of attendance before each academic year. If recipients have changes to their enrollment or living situation mid-year, their award amount may be adjusted.

Sponsor will provide laptops to all recipients and handle laptop distribution.

Scholarship does not cover fraternity or sorority fees, travel/transportation, off-campus rent/lease deposits and down payments, utilities, etc.

Awards are renewable up to three years or until a bachelor’s degree is earned, whichever occurs first, on the basis of satisfactory academic performance (maintaining a cumulative grade point average of 2.3 on a 4.0 scale). Award amounts will be adjusted on an annual basis based on each recipients COA.

Awards are payable to the college/university.

Awards are for undergraduate study only.

Recipients may be offered internships by Sponsor.


Selection of Recipients

Scholarship recipients are selected on the basis of:

  • Demonstrated leadership and participation in school and community activities
  • Work experience
  • A statement of educational and career goals and objectives
  • Unusual personal or family circumstances
  • Financial need

Financial need will be considered. Recipients must demonstrate need.

Selection of recipients is made by Scholarship America. In no instance does any officer or employee of Chicago Community Trust play a part in the selection. Not all applicants to the program will be selected as recipients. All applicants agree to accept the decision as final.


All applicants will be notified in April.

Payment of Scholarships

Scholarship America processes scholarship payments on behalf of Chicago Community Trust. Payment is made in late August.

As part of your application, you must upload the following:

  • A current, complete transcript of grades. Grade reports are not accepted. Transcripts must display student name, school name, grades and credit hours for each course and term in which each course was taken.
  • Copy of the first two pages of the most recently filed IRS Form 1040 used for the Financial Information section of the application. Please black out all social security numbers and bank account information.

NOTE: If you are providing SAT or ACT test scores, and those scores are not listed on your high school transcript, you will need to upload a copy of your test score report(s) separately. If you are uploading a college transcript, those scores are not required.

Your application is not complete unless all required materials are submitted electronically.

Chicago Community Trust has partnered with Scholarship America. Selecting the button below will redirect you to the Scholarship America Student Hub! If you have any questions for the sponsor, please reach out to

Please make sure to add as well as the program email address provided below in the footer as safe senders in your email contact list.