Risk Management and Insurance students are at the heart of everything Spencer does!
Spencer awards Undergraduate, Graduate, and Ph.D. scholarships to students studying at institutions in the United States and Canada and part-time Graduate scholarships to Risk Management & Insurance professionals continuing their education.
Undergraduate Scholarships
Note: If you can't find the application form within the ISTS platform, enter Spencer as the Program Key.
Timeline:
2025 Application Opens: October 1, 2024
2025 Application Deadline: January 31, 2025
Scholarship awardees are typically notified at the end of April.
Description:
Undergraduate Spencer scholarships are awarded in the amount of $5,000, with limited $7,500 and $10,000 scholarships awarded to the highest-ranked applicants. Spencer awards scholarships to undergraduate students who meet the following criteria:
Must seek a career in Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Preferred (but not required): Majoring/minoring in Risk Management/Insurance or a related field of study (e.g., actuarial science, business, finance, information technology, etc.)
Preferred (but not required): Relevant work/internship experience and leadership skills.
Full-Time Master’s Scholarships
Note: If you can't find the application form within the ISTS platform, enter Spencer as the Program Key.
Timeline:
2025 Application Opens: October 1, 2024
2025 Application Deadline: January 31, 2025
Scholarship awardees are typically notified at the end of April.
Description:
Spencer awards $10,000 scholarships to students pursuing a master’s degree who meet the following criteria:
Must seek a career in Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Must be majoring or minoring in Risk Management/Insurance or a related field of study (e.g., actuarial science, business, finance, information technology). A Risk Management/Insurance major/minor is preferred, but applicants in related fields of study will be considered.
Relevant work/internship experience and leadership skills preferred.
Part-Time Master’s Scholarships
Note: If you can't find the application form within the ISTS platform, enter Spencer as the Program Key.
Timeline:
2025 Application Opens: October 1, 2024
2025 Application Deadline: January 31, 2025
Scholarship awardees are typically notified at the end of April.
Description:
Spencer awards Part-time Master’s Scholarships of up to $10,000 to risk practitioners who attend graduate school part-time while working full-time. Spencer awards scholarships to Part-Time Master’s students who meet the following criteria:
Must be studying Risk Management, Insurance, Actuarial Science, or a related field of study.
Must be enrolled part-time while working in the risk/insurance field full-time.
Must provide documentation outlining your employer’s tuition reimbursement policy.
Pre-Dissertation Ph.D. Candidates and Doctoral Candidate Scholarships
Timeline:
2025 Application Opens: December 1, 2024
2025 Application Deadline: March 1, 2025
Scholarship awardees are typically notified at the end of April.
Description:
The Spencer Educational Foundation is passionate about supporting future professors who will impact the education of risk management and insurance students. Spencer awards $10,000 scholarships to pre-dissertation Ph.D. Candidates and Doctoral Candidates who meet the following criteria:
Must be studying Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
NAMED SCHOLARSHIP OPPORTUNITIES
In addition to our general Spencer Scholarships, all students who apply for a Spencer scholarship will automatically be considered for one of the following Named Scholarship Awards.
Undergraduate:
+ 9/11 (September 11th) Memorial Scholarship
Awarded to an undergraduate student pursuing a career in Risk Management and Insurance who demonstrates great leadership ability.
+ AF Group Scholarship
Awarded to two undergraduate students who self-identify with a historically underrepresented race/ethnicity. To learn more about AF Group, visit: www.afgroup.com.
+ Allied World Scholarship
Awarded to an undergraduate student majoring in Risk Management and Insurance, who identifies with a historically underrepresented group*. To learn more about Allied World, visit: www.awac.com.
+ Angela Sabatino Scholarship
A $10,000 award to the highest-ranked undergraduate scholarship applicant who displays community service and compassion for others. This scholarship was established in celebration of Angela - often known as “the heart” of Spencer - who retired in 2020 after 33 years of service as Spencer’s Director of Programs.
+ Arch Actuarial Scholarship
Awarded to an undergraduate student pursuing a career in Actuarial Science who identifies with a historically underrepresented race/ethnicity. Arch scholarship recipients will also be offered an opportunity to participate in Arch’s Internship Program. To learn more, visit: www.archgroup.com/careers/student-graduates.
+ Arch Insurance Scholars Program Scholarship
Awarded to two undergraduate students who identify with a historically underrepresented race/ethnicity. Arch scholarship recipients will also be offered an opportunity to participate in Arch’s Internship Program. To learn more, visit: www.archgroup.com/careers/student-graduates.
+ Argo Group Diversity Scholarship
Awarded to two undergraduate students at the University of Illinois at Urbana Champaign who identify with a historically underrepresented race/ethnicity. The Argo Group Diversity Scholarship is a two-year scholarship (Junior Year 2023–2024 and Senior Year 2024–2025) in the amount of $5,000 per academic year. Recipients will also be invited to participate in a mentorship and summer internship program offered by Argo Group. Note: Students must reapply in order to be eligible to receive the second scholarship award in their senior year.
+ AXA XL - Ian R. Heap Memorial Scholarship
Awarded to an undergraduate student majoring in Risk Management and Insurance, in memory of the first Chairman and Chief Executive Officer of AXA XL, the late Ian R. Heap. To learn more about AXA XL, visit: https://axaxl.com/about-us/careers.
+ Brown & Brown Diversity Scholarship
Awarded to an undergraduate student who identifies with a historically underrepresented race/ethnicity. The recipient of the Brown & Brown Diversity Scholarship will be invited to participate in the Professional Development Internship Program with the Brown & Brown Risk Solutions team. To learn more about the program, visit: https://bbinsurance.wd1.myworkdayjobs.com/Careers/job/Six-Concourse-Parkway-Suite-2300-Sandy-Springs-Atlanta-GA-30328/Professional-Development-Program---2024-Summer-Internship_R24_0000000263.
+ Chubb - William J. Clagnaz Memorial Scholarship
Awarded to an undergraduate student studying risk management and insurance who is a permanent resident of New York City. This scholarship is made possible through the generosity of Chubb, formerly ACE Group of Companies, in honor of the late William J. Clagnaz. To learn more about Chubb, visit: https://careers.chubb.com/global/en/north-america.
+ Elizabeth M. Lisle Scholarship
Awarded to an undergraduate student with a major or minor in Risk Management and a minor in Information Technology or Business Analytics. Elizabeth Lisle is a Spencer Scholar alumna who received a scholarship in 1995, 1996 and 1997!
+ FM Global Scholarship
Awarded to two undergraduate students pursuing careers in Risk Management and Insurance and created through the generosity of FM Global. To learn more about FM Global, visit: www.fmglobal.com.
+ Gabe Cossio Scholarship
Awarded to an undergraduate student attending the University of South Carolina. Gabe Cossio is a Spencer Scholar alumnus who received an Undergraduate Scholarship in 2010!
+ Hylant Scholarship
Awarded to two undergraduate students pursuing careers in Risk Management and Insurance and who identify with a historically underrepresented race/ethnicity. To learn more about Hylant, visit: www.hylant.com.
+ John T. Lockton Memorial Scholarship
Awarded to undergraduate students in memory of the late John T. “Jack” Lockton. To learn more about the Lockton Companies, visit: https://careers.lockton.com
+ Latin American Association of Insurance Agencies (LAAIA) Scholarship
Awarded to two undergraduate students who self-identify as Latino/Hispanic American. The recipients of the Latin American Association of Insurance Agencies (LAAIA) Scholarship will be invited to the annual LAAIA Convention in Florida. To learn more about LAAIA, visit: https://laaia.com/about.
+ Liberty Mutual Group Scholarship
Awarded in the amount of $10,000 to four undergraduate students who identify with a historically underrepresented group. This scholarship is made possible through the generosity of Liberty Mutual Insurance. To learn more about Liberty Mutual, visit: https://jobs.libertymutualgroup.com/careers/undergraduate-internships/.
+ Milliman Scholarship
Awarded to an undergraduate student who self-identifies as female and with a historically underrepresented racial/ethnic group. Student must have passed at least one actuarial exam and must be legally eligible for employment, now and in the future, without any visa or immigration sponsorship. To learn more about Milliman, visit: https://us.milliman.com/en/.
+ MMA - Edith Lanier Wickham Memorial Scholarship
Awarded to a female undergraduate student pursuing a career in Risk Management and Insurance. Preference is given to students residing in the Southeastern region of USA. To learn more about MMA, visit: www.marshmma.com.
+ Philadelphia Insurance Companies Scholarship
Awarded to an undergraduate student who identifies with a historically underrepresented race/ethnicity. To learn more about Philadelphia Insurance Companies, visit: www.phly.com.
+ RIMS Atlanta Chapter - Dr. E.J. Leverett Memorial Scholarship
Awarded to an undergraduate student pursuing a degree in Risk Management or Insurance, who is a permanent resident of Georgia. This scholarship was created in memory of Edgar J. Leverett, founder of the University of Georgia risk management and insurance program. To learn more about the Atlanta Chapter of the Risk & Insurance Management Society (RIMS), visit: www.atlantarims.org.
+ RIMS Atlanta Chapter Scholarship
Awarded to an undergraduate student pursuing a degree in Risk Management or Insurance, who is a permanent resident of Georgia. To learn more about the Atlanta Chapter of the Risk & Insurance Management Society (RIMS), visit: www.atlantarims.org.
+ RIMS Chicago Chapter Scholarship
Awarded to an undergraduate student pursuing a Risk Management and Insurance degree, who is attending a university in Illinois, Indiana, Iowa, Michigan, or Wisconsin. To learn more about the Chicago Chapter of the Risk & Insurance Management Society (RIMS), visit: www.chicagorims.org.
+ RIMS CT Valley Scholarship
Awarded to an undergraduate student attending a university located in or near the Connecticut Valley, or a student native to Connecticut who is attending an out-of-state university. To learn more about the CT Valley Chapter of the Risk & Insurance Management Society (RIMS), visit: www.ctrims.org.
+ RIMS DFW Chapter - Gabriel L. Lugo Scholarship
Awarded to an undergraduate Risk Management and Insurance major who is a permanent resident of the state of Texas. This scholarship was created by the Dallas-Fort Worth Chapter of the Risk and Insurance Management Society in honor of the life and legacy of Gabriel Lugo. To learn more about the Dallas-Fort Worth RIMS Chapter of the Risk & Insurance Management Society (RIMS), visit: www.dfwrims.org.
+ RIMS New Jersey Chapter Scholarship
Awarded to an undergraduate student who is a permanent resident of New Jersey or attending a New Jersey institution. To learn more about the New Jersey Chapter of the Risk & Insurance Management Society (RIMS), visit: http://newjersey.rims.org/home.
+ RIMS New York Chapter - Dante Petrizzo Memorial Scholarship
Awarded to an undergraduate student in New York City in honor of the memory of the New York RIMS Chapter’s past president, Dante Petrizzo. To learn more about the New York Chapter of the Risk & Insurance Management Society (RIMS), visit: www.nyrims.org.
+ RIMS New York Chapter - Thomas Regan Memorial Scholarship
Awarded to an undergraduate student in the tri-state area in honor of the life of Thomas M. Regan, a past RIMS New York Chapter president who perished in the September 11, 2001, World Trade Center terrorist attack. To learn more about the New York Chapter of the Risk & Insurance Management Society (RIMS), visit: www.nyrims.org.
+ Risk and Insurance Management Society (RIMS) Undergraduate Scholarship
Awarded to an undergraduate student majoring in Risk Management and Insurance. To learn more about the Risk & Insurance Management Society, visit: www.rims.org
+ Risk Strategies Scholarship
Awarded to an undergraduate student who identifies with a historically underrepresented race/ethnicity. To learn more about Risk Strategies, visit: www.risk-strategies.com.
+ Robert E. and John P. Gallagher Memorial Scholarship
Awarded to an undergraduate student and created through the generosity of Gallagher in memory of the late Robert E. and John P. Gallagher. To learn more about Gallagher, visit: www.ajg.com.
+ RSUI Group Scholarship
Awarded to an undergraduate student pursuing a career in Risk Management and Insurance, who identifies with a historically underrepresented group. Preference given to students in the Southeastern US. To learn more about RSUI, visit: www.rsui.com.
+ Sedgwick - Steven E. Penman Memorial Scholarship
Awarded to an undergraduate student pursuing a career in Risk Management and Insurance. This scholarship was created by Sedgwick in memory of its late chief operating officer, Steve Penman. To learn more about Sedgwick, visit: www.sedgwick.com.
+ The Beckage Firm Scholarship
Awarded to an undergraduate student who self-identifies as female and/or with a historically underrepresented racial/ethnic group to help promote diversity and inclusion in technology, risk management, law, and data security and privacy fields. Well respected and known in the industry, Jennifer A. Beckage, Esq., CIPP/US, CIPP/E created the first scholarship with the Spencer Foundation to provide this scholarship award and is proud to continue this opportunity. To learn more about The Beckage Firm, visit: www.thebeckagefirm.com.
+ Travelers Scholarship
Awarded to two undergraduate students pursuing careers in risk management, insurance or actuarial science. Preference is given to students residing in or near Hartford, CT, or St. Paul, MN. To learn more about Travelers, visit: https://careers.travelers.com.
+ Young Risk Professionals of Georgia Scholarship
Awarded to an undergraduate student pursuing a degree or career in Risk Management and Insurance within the State of Georgia. Young Risk Professionals (YRP) was founded in 2013 with a focus on connecting professionals in the Risk and Insurance industry. Our mission is to impact the next generation of leadership within our industry through networking, mentoring, and education. To learn more about the Georgia Chapter of YRP, visit: www.youngriskprofessionals.org/atlanta.
+ Zurich Scholarship
Awarded to an undergraduate student pursuing a career in risk management and insurance. This scholarship was created through the generosity of Zurich Insurance Group. To learn more about Zurich, visit: www.zurich.com/en/careers.
Graduate:
RIMS New Jersey Chapter - Graduate Scholarship
Awarded to a graduate student attending a university located in (or surrounding) the State of New Jersey on a full-time or part-time basis.
To learn more about the New Jersey Chapter of the Risk & Insurance Management Society (RIMS), visit: http://newjersey.rims.org/home.
Risk and Insurance Management Society (RIMS) Part-Time Master’s Scholarship
Awarded to a member of RIMS who is a practicing risk professional pursuing a part-time Master’s degree.
To learn more about the Risk & Insurance Management Society (RIMS), visit: www.rims.org.
Disclosure
*At Spencer, our working definition of “Historically Underrepresented Groups” refers to groups who have historically faced institutional discrimination in the United States, resulting in a lack of proportional representation in the risk management and insurance industry. These groups may include but are not limited to: historically underrepresented racial/ethnic groups, including individuals who identify as Black, Afro-Caribbean, African, East Asian, Latinx, Hispanic, Middle Eastern, Arab, Native American, Alaskan Native, Native Hawaiian, Pacific Islander, and/or South Asian; gender non-binary or gender non-conforming people; LGBTQIA+ people; veterans; and people with disabilities.
Non-Discrimination Policy
Spencer awards scholarships on the basis of merit, and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, age, disability, marital status, citizenship, national origin, or military status.
More Details
If you would like general information about our Scholarship program, please email our University Partnerships Director: Ken Goldstein.
If you have technical questions about your undergraduate, full-time master’s, or part-time master’s application, please email our vendor partner: contactus@applyists.com.
To review a listing of the current Spencer scholarship award recipients (Spencer Scholars), please click HERE.