The Spencer Educational Foundation Awards over $1.6 Million for Risk Management and Insurance Education
Over 14,000 students reached through 2023 programs, scholarships, and funding
New York, NY (December 15, 2023) - The Spencer Educational Foundation, a leading non-profit organization dedicated to supporting education in risk management and insurance, is wrapping up an exceptional year after awarding over $1.6 million to students as well as the organizations that educate them. Spencer support is allocated solely based on merit rather than financial need. Spencer is also agnostic when university program selections are made; attributes are weighted according to their ability to perpetuate the flow of talent into the insurance industry.
The Spencer Educational Foundation's 2023 success is a testament to the leadership of Spencer’s 26 members of the Board of Directors, the management team, along with Spencer’s trusted reputation of financial support for quality talent and programming amidst a changing landscape of education. Through scholarships, internships, and grants, the foundation continues to inspire and empower the next generation of risk management and insurance professionals.
Spencer made a positive impact on the lives of aspiring risk management and insurance professionals in 2023 by awarding 103 Scholarships, 32 Internship Grants, 22 Risk Manager on Campus Grants, 16 General Grants, and 14 Course Development Grants, totaling over $1.6 million.
"We are immensely grateful to our partners and donors for their dedicated support of our mission to promote education in risk management and insurance," says Megan Miller, Executive Director of the Spencer Educational Foundation. "This generosity has enabled us to provide valuable financial support to talented students pursuing careers in these insurance industry fields."
More than 85% of Spencer scholarship recipients remain in the insurance industry upon graduation. Scholarships are awarded to undergraduate, graduate, and Ph.D. students studying risk management, insurance, actuarial science, and other related majors in the US and Canada. The Internship Grants program provides funding for Risk Managers to hire interns in the risk management function of their organizations and offers real-world business environments where interns can quickly apply their knowledge, gain hands-on experience, and develop their industry contacts. The Risk Manager on Campus (RMOC) Grants program provides grants of up to $5,000 for universities to bring a practicing Risk Manager on campus to present and engage with students about the risk management profession and insurance industry over a 1-3-day period, and the General Grants program supports student-centered experiential learning opportunities at universities and industry organizations. Course Development Grants further support the creation and development of introductory and additional RMI courses for US and Canadian universities.
As the year draws to a close, the Spencer Educational Foundation would like to extend its deepest gratitude to all supporters who have contributed to the foundation's success. Their support has allowed the foundation to make meaningful investments in the education and future of talented students.
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About the Spencer Educational Foundation:
The Spencer Educational Foundation is a non-profit organization committed to fostering the education and professional development of risk management and insurance students. Since its establishment in 1979, the foundation has been helping students succeed by providing scholarships, grants, and internships to talented individuals pursuing careers in these fields. To learn more about the Spencer Educational Foundation and its programs, please visit www.spencered.org.
Media Contact:
Tandeka Nomvete
External Engagement Director
Spencer Educational Foundation
Email: tandeka@spencered.org