The Ida C. Koran Scholarship Program was established to assist dependent children of Ecolab Inc. employees and retirees with tuition and other postsecondary educational expenses for study at a vocational, trade or technical school, community college or university. All selected recipients (dependent children of Ecolab employees) will receive a scholarship. U.S. new recipients will have an opportunity to receive additional loan assistance.
The scholarship program, funded by the Ida C. Koran Trust, is independently 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 Ida C. Koran Scholarship Program must:
*Dependent children are defined as biological, step-or legally adopted children living in the employee’s household or primarily supported by the employee.
Scholarship recipients are selected on the basis of:
Once recipients are identified using the above criteria, financial need is then assessed to determine the amount of each award. Recipients must demonstrate financial need to receive an award.
Applications of students attending a community college or a vocational-technical school to earn a certificate or license for a specific trade/occupation will be evaluated in separate application pools.
The Internal Revenue Service (IRS) requires the Ida Koran Trust to grant financial assistance to a maximum of 25% of the applicant pool (one student out of every four who apply). The more applications the Ida C. Koran Scholarship Program for Children of Ecolab Inc. Employees receives, the more awards we are able to provide.
Selection of recipients is made by Scholarship America. In no instance does any officer or employee of Ecolab or the Ida C. Koran Trust participate in selection. All applicants agree to accept the decision as final.
Applicants will be notified by email in mid to late May. Not all applicants to the program will be selected as recipients. All non-recipients may reapply to the program each year they meet eligibility requirements.
Award recipients are required to supply current official transcripts and financial information, when requested, and to notify Scholarship America of any changes in address, school enrollment, or other relevant information.
Scholarship recipients are under no obligation to Ida C. Koran Trust or Ecolab Inc. Loan recipients are under no obligation to Ecolab Inc. but are obligated to repay the loan principal and related interest to the Ida C. Koran Trust according to the terms of the loans.
Awards will be disbursed each academic year (as specified below) for as long as the student remains eligible, up to a maximum of four academic years. Award recipients will be required to demonstrate continuing eligibility each academic year (including full-time enrollment in an eligible institution and satisfactory academic performance) in order to receive disbursements. Awards may be used for undergraduate education expenses only.
Awards to persons who are residents of countries other than the United States and awards to residents of Puerto Rico will be scholarships.
In addition to their scholarship, U.S. based scholarship recipients will be offered the opportunity to take a low interest loan. Scholarship recipients may accept or decline the loan.
Loans do not accrue interest for as long as the recipient is enrolled as a full-time student in an eligible institution and for twelve months thereafter, and no loan payments are due during that time. Interest begins to accrue and monthly payments of principal and interest begin twelve months after the recipient is not enrolled full-time as a student. All loans will be originated and serviced by Aspire Resources, Inc. The table below shows the number of years over which the loan will be repaid, depending on the total amount of the loan outstanding:
As part of your application, you must upload the following:
If you are a U.S. student providing SAT or ACT test scores, and those test scores are not listed on your high school transcript, you will need to upload an official copy of those test scores 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.
