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. 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:
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.)
Scholarship recipients are selected on the basis of:
Since this scholarship program uses a competitive selection process, not all applicants to the program will receive scholarships. Furthermore, IRS regulations limit the number of scholarships that can be given to no more than 25 percent of the total eligible applicant pool. Selection of recipients is made only by Scholarship America. In no instance does any officer, employee or agent of New York Life Insurance Company or the New York Life Foundation participate in the selection process.
Awards ranging from $500 to $4,000 will be given. The number of awards that may be given will not exceed 25% of the total number of eligible applications received. Students who do not demonstrate financial need may be awarded a one-time honorarium of $500. Students who demonstrate financial need may be awarded $2,000-$4,000.
Financial need will be considered in determining the amount of the award. Potential recipients who do not demonstrate need (or who do not provide financial information) will be eligible to receive an honorarium at the minimum amount.
Awards are for undergraduate study only.
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 non-religious course of study for the entire academic year.
*Honorarium recipients are eligible to re-apply for a renewable award if their financial situation has changed and demonstrate financial need.
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 of both scholarship offers.)
Applicants will be notified by Scholarship America in April whether or not they have been selected to receive an award. All applicants agree to accept the decision as final.
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.
Participation in the New York Life Foundation Scholarship Program is voluntary. By submitting the New York Life Foundation Scholarship Program application, you are agreeing to share your financial and personal identifiable information with Scholarship America, a third party, which administers this program on behalf of the New York Life Foundation.
The scholarship application is confidential and will not be shared with New York Life Foundation – except when needed for servicing purposes (e.g., confirmation of employment, to assist with eligibility, communication, etc.), or as required by law. Personally identifiable information (e.g. employee name, employee id, employee email, dependent child’s home address, email address, date of birth, etc.) will not be shared with another third-party except for servicing the scholarship (e.g. scholarship recipient checks or status of the scholarship recipient at their university, etc.).
The scholarship application becomes the property of Scholarship America. Non-recipient applications are maintained for one year and then destroyed. Scholarship recipient applications are maintained for the award period plus one additional year, and then destroyed.
As part of your application, you must upload the following:
One online recommendation form must be submitted on your behalf no later than February 5, 2021 3:00 pm.
Your application is not complete unless all required materials are submitted electronically.