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The application program will be available again in January, 2022. Please return then to view the updated Eligibility and Awards for the 2022-2023 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 Risk Management Association (RMA) Foundation Scholarship Program
Application status: Closed

The Risk Management Foundation (RMA Foundation) has established a scholarship program to assist students who have completed at least two years of college education who plan to continue their education at an accredited four-year college or university in the U.S. or Canada.

The 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.

Applicants to The Risk Management Association (RMA) Foundation Scholarship Program must:

  • Be a citizen or permanent resident of U.S. or Canada.
  • Be current sophomores or juniors who are enrolled in a full-time undergraduate course of study at an accredited four-year college or university in the United States or Canada and will continue to be enrolled full-time for the entire 2021-2022 academic year.
  • Have an intent to work in the banking industry following graduation.
  • Have a minimum grade point average of 3.0 on a 4.0 scale (or the equivalent) overall.

Applicants do not have to be a current RMA member, but they must join (free) and remain a member to renew the award.

RMA employees and their dependents are ineligible to apply. Others ineligible to participate include past and current members of the Board of Directors of RMA and the RMA Foundation and their families.

Selection of Recipients

Scholarship recipients are selected on the basis of:

  • Academic record
  • Demonstrated leadership and participation in school and community activities
  • Work experience
  • Demonstrated interest in the banking industry evidenced by activities such as RMA membership, academic studies, internships, case studies, or involvement in local RMA chapter

Financial need is not considered.

Selection of recipients is made by RMA. All applicants agree to accept the decision as final.


If selected as a recipient, the student will receive an award ranging from $1,500 to $8,000.

Recipients may reapply for continuation of their scholarship for up to two additional years or until a bachelor’s degree is earned, whichever occurs first. A renewal is not guaranteed. In order to have a scholarship renewed, students must:

  • Complete the renewal application which will be sent electronically by Scholarship America in January.
  • Demonstrate a continued intent to work in the banking industry by having worked at a bank, targeted employers in the banking industry or identified mentors that will help the student secure a job in banking.
  • Maintain a minimum 3.0 GPA on a 4.0 scale (or the equivalent) overall.
  • Remain enrolled full-time for the entire academic year in an undergraduate course of study, and
  • Remain an RMA student member (free).

Awards are for undergraduate study only.


Applicants will be notified in June. Not all applicants to the program will be selected as recipients. Students may reapply to the program each year they meet eligibility requirements.

Payment of Scholarships

Scholarship America processes scholarship payments on behalf of the RMA Foundation. Payments are made in one installment in early August.

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.

Your application is not complete unless all required materials are submitted electronically through the Scholarship America Hub.

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