The Newmont U.S. Scholarship Program (“Program”) provides dependent children of Newmont employees with financial incentive and assistance for post-high school education.
The goal of the Program is to encourage postsecondary education/training and contribute to the educational development of our employees’ children. This encouragement and financial incentive is expected to benefit the individual recipients, our employees, our communities, and Newmont through the development and potential recruitment of educated professionals in disciplines necessary for our success.
This program is administered by Scholarship America®, the nation’s largest designer and manager of scholarship, tuition assistance and other education support programs for corporations, foundations, associations, and individuals. Awards are granted without regard to race, color, creed, religion, sexual orientation, age, gender, disability, or national origin.
Awards are for dependent children (as defined by the benefit plan documents) of Newmont U.S. employees including employees who are classified as an expatriate and are a U.S. Citizen or Green card holder. If dependent children are not actively covered under Newmont health benefits, proof of eligibility must be provided to the HR Service Delivery Team prior to a scholarship being awarded. Dependents of part-time employees (defined as working less than 30 hours per week) are eligible for up to 50% of the award that is given to others in the same level. Dependents of contractors, fixed term employees, seasonal employees and interns are not eligible to participate in this program.
Students will be eligible for scholarships for up to five years or until a bachelor’s degree is obtained, whichever comes first.
Eligibility may be lost if:
Awards range from $500 to $6,000 annually. Half of the award is distributed at the beginning of each semester. A check is mailed to the parent’s address on file but will be payable to the educational institution. The institution shall distribute to the student any funds not used for tuition so the funds may be applied to other expenses.
Available awards are organized into three tiers:
Awards may be used at institutions and educational programs that meet the following criteria:
Application for the award
An application is to be completed online by eligible dependents and submitted, along with supporting documents (e.g., transcripts, acceptance form, etc.), within the specified period. Details outlining the application process and timeline are sent to all eligible employees in January of each year.
Selection of recipients:
Applications and applicants will be evaluated by a panel comprised of representatives from Newmont North America. This review will be to determine that eligibility requirements are met, and to establish the level of award.
Selection of recipients is made by Scholarship America. All applicants agree to accept the decision as final.
Financial need is not considered.
Applicants will be notified in May. Not all applicants to the program will be selected as recipients.
Payment of Scholarships
Scholarship America processes scholarship payments on behalf of Newmont North America. Awards will be paid in two installments in August and January. Awards are made payable to the institution for the student.
In the U.S., the Newmont North America Scholarship is considered by the IRS to be a taxable employee benefit. Employees will have taxes withheld twice per year to account for this tax liability.
In Canada, the Newmont North America Scholarship is taxable to the student.
The Newmont Scholarship Committee will oversee the administration of the Program and set the award amounts yearly based on approved budget.
The Newmont U.S. Dependent Scholarship is considered a taxable employee benefit. Employees will have taxes withheld per IRS regulations.
As part of your application, you must upload the following documents:
Your application is not complete unless all required documents are submitted electronically. Incomplete applications will not be considered for a scholarship.