Undergraduate Scholarships

The 2020 scholarship applications portal is now open and needs to be completed by January 31, 2020, please click here to apply. You will first be asked to answer an eligibility quiz in order to determine if you are a match for our scholarships.

Since 1979, Spencer has awarded more than 1,127 scholarships totaling approximately $7.4 million. Spencer awards scholarships to full-time undergraduate students who meet the following criteria for the 2020-2021 academic year:

  • Full-time student (12 hours or more per term) undergraduate junior/senior

  • Field of study – normally a major or minor in a risk-management discipline (risk management, insurance, actuarial science, business, finance, information technology(minors only))

  • Career objectives in risk management

  • GPA of 3.3 or higher

  • Relevant work experience

  • Leadership skills

  • Applicants must be enrolled full-time at an accredited U.S. or Canadian college/university


NEW: SPencer honors

For 2019, based on the evaluations of the Scholarship Committee, the Foundation awarded the top five (5) undergraduate students a $7,500 scholarship.

Non-Discrimination Policy

Spencer awards scholarships on the basis of merit and does not discriminate on the basis of race, color, sex, religion, national origin, age, handicap or veteran status.


Resume Book

Students awarded scholarships will have their resumes included in the Spencer’s Resume Book, which is distributed to top Foundation supporters. Those selected for named/memorial scholarships may be contacted by the sponsors of that scholarship.

 If you are selected to receive a Spencer Scholarship, you may be asked to speak at Spencer events or to volunteer your time to assist with our annual Gala Dinner.

Contact Information

If you have any question or would like additional information, please email Angela Sabatino, Program Director, or call her at 212-655-6223.


General Fund and Named/Memorial Scholarships

Some of the scholarships are from the Spencer general fund while others were created by individual companies or in honor of a person or organization. These Named/Memorial Scholarships frequently have a designated value and eligibility criteria. Recipients are chosen by the Foundation’s Education Committee from the pool of applications received.

In addition to the Foundation’s scholarship criteria, named/memorial scholarships may have additional requirements. All students who apply and meet the Committee’s criteria will be considered for these scholarships. The Scholarship committee will select the scholarship recipient who best fits with our donor’s award criteria.

Allied World Assurance Company (AWAC)  |  $5,000
All applicants are eligible

Liberty Mutual Group Scholarship (up to 4 individual awards)  |  $5,000
All applicants are eligible

Dr. Ellen Thrower Scholarship  |  $5,000
Students attending St. John's University

RIMS Atlanta Chapter Scholarship  |  $5,000
Permanent residents of Georgia

E.J. Leverett Memorial Scholarship (Atlanta Chapter)  |  $5,000
Permanent residents of Georgia

RIMS Chicago Chapter Scholarship  |  $5,000
Undergraduate students attending a college or university in the states of Illinois, Indiana, Iowa, Michigan, and Wisconsin

Gabriel Lugo Scholarship (RIMS Dallas/Ft. Worth Chapter)  |  $5,000
Permanent residents of Texas

William J. Clagnaz ACE USA Memorial Scholarship  |  $5,000
Permanent residents of New York City, including any of the five boroughs

Elizabeth M. Lisle Scholarship |  $5,000
Students with a major in risk management/insurance and a minor in information technology/data analytics.

John T. Lockton Memorial Scholarships (up to seven awards annually)  |  $5,000
Undergraduate risk management/insurance and business administration majors

FM Global Scholarship (up to 2 individual awards)  |  $5,000
All applicants are eligible

Dante Petrizzo Memorial Scholarship (RIMS NY Chapter)  |  $5,000
Permanent residents of the Tri-State area (Connecticut, New Jersey or New York)

Thomas Regan Memorial/RIMS New York Chapter Scholarship  |  $5,000
Permanent residents of the Tri-State area (Connecticut, New Jersey or New York)

RIMS New Jersey Chapter  |  $5,000
Permanent residents of New Jersey

Sedgwick/Steve Penman Memorial Scholarship  |  $5,000
All applicants are eligible

September 11th Memorial Scholarship  |  $5,000
Awarded to one student based on the Foundation’s criteria plus leadership abilities

XL Capital Group/Ian R. Heap Memorial Scholarship  |  $5,000
All applicants are eligible

Zurich Insurance Group Scholarship  |  $5,000
All applicants are eligible