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The application program will be available again December. Please return then to view the updated Eligibility and Awards for the upcoming 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!

The New York Life Family Scholars Program
Application status: Closed

The New York Life Foundation established the New York Life Family Scholars Program to assist the children of employees and agents who plan to attend college or vocational/technical school programs. Renewable scholarships are offered for full-time study at an accredited institution of the student’s choice.

The New York Life Family Scholars Program offers two separate scholarship opportunities: one independently administered by Scholarship America® and another independently administered by National Merit Scholarship Corporation.

This page provides information on the New York Life Family Scholars Program independently administered by Scholarship America. For information on the National Merit Scholarship, visit your high school counseling office and obtain a copy of the PSAT/NMSQT student bulletin. Students may apply for both National Merit and Scholarship America awards, but will only be granted one award. No student who has been awarded the National Merit Scholarship will be eligible for the New York Life Family Scholars Program from Scholarship America in the future.

To begin your application, click on the “Apply Now” button below.

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. Eligibility for individual programs is determined at the sole discretion of the sponsor, and eligible applications are reviewed by Scholarship America’s evaluation team. Awards are granted without regard to race, color, creed, religion, sexual orientation, gender, disability, or national origin.

Applicants to the New York Life Family Scholars Program must be:

  • Dependent children* of agents actively under contract or full-time U.S.-based employees of New York Life Insurance Company or a domestic subsidiary of New York Life Insurance Company. Employees must be with the Company or subsidiary for at least three years as of the application deadline. Agents must be under contract with the Company for three years or more as of the application deadline,

AND

  • High school senior or graduate, or current post-secondary student, who plans to enroll in full time undergraduate study at an accredited two-year, four-year, or vocational college or university for the entire upcoming academic year.

Students who plan to enroll in schools for religious preparation and training or who are college undergraduate New York Life National Merit recipients are not eligible. Previous New York Family Scholars Program Honorarium recipients are also ineligible unless their financial situation has changed.

*Dependent children are defined as natural and legally adopted children or stepchildren living in the employee’s household or primarily supported by the employee or agent. (Any unusual circumstances regarding dependency status of the child should be submitted in writing to Scholarship America for consideration.)

Selection of Recipients

Scholarship recipients are selected on the basis of academic record, demonstrated leadership and participation in school and community activities, honors, work experience, statement of educational and career goals and objectives, unusual personal or family circumstances, and an online recommendation.

Awards

Financial need will be considered in determining the amount of each award. The program will be administered in full compliance with IRS Revenue Procedure 76-47. No more than 25% of eligible applicants may receive awards.

Awards ranging from $500 to $4,000 will be given. Students who do not demonstrate financial need (or who do not provide financial information) may be awarded a one-time honorarium of $500. Students who demonstrate financial need may be awarded $2,000-$4,000.

Awards of $2,000 or greater are renewable up to three years or until a bachelor’s degree is earned, whichever occurs first, on the basis of satisfactory academic performance in a full-time undergraduate nonreligious course of study for the entire academic year.

Honorariums are not renewable; however, students who receive an honorarium may reapply to the program if their financial situation changes and they demonstrate need, provided they continue to meet the eligibility requirements.

Students may receive a New York Life National Merit award or a New York Life Family Scholars Award but are not eligible to receive both awards. (Students will notify New York Life Foundation which award they choose to accept no later than two weeks after receipt of both scholarship offers).

Awards are for undergraduate study only.

Notification

Applicants will be notified by Scholarship America in late March whether or not they have been selected to receive an award. All applicants agree to accept the decision as final.

Payment of Scholarships

Scholarship America processes scholarship payments on behalf of the New York Life Foundation. Awards are paid in one installment in mid-August. Checks are mailed to the recipient’s home address and are made payable to the school for the student.

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.

    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 an official copy of those test scores separately. If you are uploading a college transcript, those scores are not required.

One online recommendation form must be submitted on your behalf no later than February 7, 2022 3:00 pm CT.

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

New York Life Foundation has partnered with Scholarship America. Selecting the button below will redirect you the Scholarship America Student Hub!