Six Things to Keep in Mind about ISA Summer Scholarships

MoneySummer may be months away but the ISA Summer Scholarships deadline is a mere four weeks away! Here are a handful of FAQs about Summer Scholarships that should help make your application process go smoothly.

  1. When is the deadline? The deadline to apply for the ISA Diversity Scholarship and the Michaela Farnum Memorial Scholarship is February, 28!  Two $1,000 ISA Diversity Scholarships and five $1,000 Michaela Farnum Memorial Scholarships are offered each summer. Unfortunately for late applicants, we do not accept any applications postmarked after the deadline. Fortunately for you, you are reading this now and can get a head start on your application, right?
  2. Do I have to be accepted into an ISA program to be eligible for a scholarship? Yes, even though the Summer Scholarships deadline is before the Summer programs deadline, you still have to be accepted into an ISA program to be considered. The good news is, you can mail everything in together and kill two birds with one stone.
  3. How many applicants apply? The number of applicants who apply for scholarships vary from year-to-year but one thing remains constant: there are relatively few applicants who submit all documents on time and are eligible.  It is definitely worth applying!
  4. Do I need to submit two transcripts if I apply for both scholarships? If ISA has your most recent official transcript from your application, you do not need to re-submit a transcript at all. If you apply for both scholarships, you will not need to submit any duplicate materials, such as letters of recommendation either.
  5. Are ISA Scholarships merit based or need based? You do not need to be on financial aid to receive the ISA Diversity Scholarship but are encouraged to submit financial aid documents if you have them.  The Michaela Farnum Memorial Scholarship is a merit and need based scholarship, so supporting financial aid documents are required. You can print the Student Aid Report from your FAFSA account online and your home university’s award letter from your university student account online.
  6. When/how do I find out if I won? It can take up to six weeks for ISA and our Scholarship Committee to judge the applications. Winners will receive a call from their Program Manager congratulating them on their award!  All other applicants will receive an email letting them know the winners have been announced. You will also see a button on the right-hand side of our website once the winners have been announced.

Insider tip: Lots more information about ISA Scholarships and outside scholarships that many ISA students win, like the Benjamin A. Gilman Scholarship, can be found on our website. Happy financing!

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