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 application 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.
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.
*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 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.
Once scholarship recipients are selected based on the criteria above, financial data is assessed to determine the amount of each award. Recipients who do not demonstrate financial need or whose parents choose not to supply financial information will be considered for a one-time honorarium of $500 only. If an honorarium recipient’s family financial situation changes, they are eligible to reapply in a future year as long as the financial information section is completed and need is shown. (Refer to the instructions for completing the financial data section of the application.) Awards are for undergraduate study only
Renewable scholarship awards administered by Scholarship America range from $2,000 to $4,000. Awards other than one-time honoraria may be renewed for up to three additional years or until a bachelor’s degree is earned, whichever occurs first. Renewal is contingent upon satisfactory academic performance in a full-time course of study and continuation of the New York Life Family Scholars Program by the New York Life Foundation.
Applicants will be notified by Scholarship America in May 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.
Participation in the New York Life Foundation Scholarship Program 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.
Instructions for Completing the Financial Data Section of the Application
The Financial Data section of the application should be completed by the parent/guardian who is the employee or agent. Information should be from a completed tax return or based on estimated information to be filed with the IRS.
NOTE: Any exceptions to providing financial information as instructed above must be submitted to Scholarship America in writing.
Interested students must complete the application and mail it along with a current, complete transcript of grades to Scholarship America postmarked no later than January 31, 2020. Grade reports are not acceptable. Transcripts must display student name, school name, grade and credit hours earned for each course, and term in which each course was taken.
Applicants will receive acknowledgment of receipt of their application. If an acknowledgment is not received within three weeks, applicants may call Scholarship America to verify that their application has been received.
Applicants are responsible for gathering and submitting all necessary information. Applications are evaluated on the information supplied; therefore, answer all questions as completely as possible. Incomplete applications will not be evaluated.
All information received is considered confidential and is reviewed only by Scholarship America.
Open the Printable Application Form (This will open in a new window)
Use the PDF fill-in-the-blank feature to complete the form:
Applicants must print the page(s) of the application containing the Applicant Appraisal and Transcript Information sections (if part of the application) and submit to the appropriate individuals for completion (if applicable). These sections cannot be completed electronically.
Mail the completed application form (including the completed Appraisal and Transcript sections if part of the application, and any other required documents) to Scholarship America by the program’s application postmark deadline: January 31, 2020. The mailing address is on the application form.
NOTE: You will need ADOBE Reader 6.0 or greater to open, use and print this PDF fill-in-the-blank form. If you do not have this free software installed on your computer, click on the ADOBE icon. Follow the directions to install ADOBE Reader (free download), then return to this page to proceed.
Questions? Contact us:
Phone: 507-931-1682 and ask for the New York Life Family Scholars Program
Questions regarding the scholarship program should be addressed to:
New York Life Family Scholars Program
One Scholarship Way
Saint Peter, MN 56082