Foresters Financial opens applications for its 2024 Competitive Scholarships

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Jan 23, 2024, 09:05 ET

Number of scholarships across Canada and the US increasing to 355

TORONTO, Jan. 23, 2024 /PRNewswire/ - Foresters Financial™ (Foresters), the purpose-driven life insurer that partners with its members to help them do more of the good they want to do, announced that it has launched the 2024-2025 academic year Competitive Scholarship¹ applications for its members and their families. Eligible new applicants and returning candidates applying for a Competitive Scholarship can submit applications as of December 4, 2023, through March 1, 2024. Learn more by visiting the Competitive Scholarship landing page on Foresters.com.

Foresters Competitive Scholarship benefit² is designed to recognize success in the classroom with a special emphasis on community service. For the 2024 academic year, the amount of the annual competitive award remains at $2,500 in local currency, with an increased number of 355 awards – up from 300 in 2023 – in total provided for successful new applicants and returning candidates throughout Canada and the U.S.

Since 2012, Foresters has awarded over 9,000 tuition scholarships internationally, an investment of more than $18.4 million USD/$24.5 million CAD.

To be eligible for consideration, applicants need to be 24 years old or younger and either a current Foresters member themselves or have a parent, legal guardian, grandparent, or spouse who is a member³. For new applicants, a minimum GPA (3.2/80%), 200 volunteer hours within the 24 months up to the deadline, and enrollment in a minimum two-year, full time undergraduate program at a recognized school in Canada or the US are required to apply. For returning applicants, a minimum GPA (3.0/75%), 50 hours of volunteer hours within 12 months up to the deadline, and enrollment in full-time studies in the academic year they are applying as a returning applicant in Canada or the US, are required to apply. Meeting or exceeding these requirements does not guarantee that an applicant will be chosen as a scholarship recipient.

Foresters Financial President and CEO Matt Berman said, "We are delighted to continue rewarding students who demonstrate exceptional commitment to their education and community, and to extend opportunities to an increased number of recipients. Embracing all forms of volunteer work for local and community causes, our objective is to empower these students to pursue their ambitions and inspire them to positively impact and uplift the lives of others."

To ensure complete impartiality in the selection, the process is managed by International Scholarship and Tuition Services, Inc. (ISTS), which appoints a Selection Committee composed of international university and college representatives. The decision is based on Community Service (including recommendation letter and an essay) and Grades - with a 65%/35% weighting for those two elements.

Applicants apply via the ISTS portal, with an easy-to-reference checklist and Live Chat feature with a Foresters customer service representative, available to support the process. Applicants will be notified of their award status by May 15, 2024. If selected for a scholarship, recipients must accept or decline the scholarship by the deadline indicated on the acceptance form. If that deadline is missed, recipients risk forfeiting their scholarship. Scholarship funds are issued by August 31, 2024. Please find a list of the 2023 recipients at this link.

About Foresters Financial

Financial security and living your purpose

Foresters Financial™ has helped people protect their family's financial future for 150 years. But we've also gone beyond that, giving our members opportunities to do more for their health, communities and the causes they care about most. Foresters is an intrinsically purpose-driven organization working to enrich family and community well-being. Alongside offering life insurance in the US and Canada and life insurance and savings solutions in the UK, Foresters partners with members to help them do more of the good they want to do.

We've been a dedicated group of community builders since 1874 and today, sustainability, environmental consciousness and social responsibility are central to delivering our purpose. That commitment has continually led us to provide meaningful lifelong benefits⁵ to our members, like Foresters Care™ grants that bring communities together, Competitive Scholarships⁶ to help create a brighter future for young leaders and others that support a world where more good happens. Together, we're making a difference while inspiring others and new generations to give back. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 23 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.⁷

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^1.The Competitive Scholarship benefit is administered by International Scholarship and Tuition Services, Inc. (ISTS). Eligible members, their spouse, dependent children, and grandchildren may apply subject to the eligibility criteria.

^2. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions, and limitations and may be changed or cancelled without notice or are no longer available.

^3. For the purpose of determining eligibility, a "certificate" includes a certificate, policy or annuity issued by The Independent Order of Foresters, or a certificate, policy or annuity issued by Foresters Life Insurance Company on or after April 2, 2008, except that it does not include Foresters Life funeral annuity certificates or creditors' group insurance certificates.

^4. Foresters Go is provided by The Independent Order of Foresters and is operated by dacadoo AG.

^5. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions, and limitations and may be changed or cancelled without notice or are no longer available.

^6. The Competitive Scholarship benefit is administered by International Scholarship and Tuition Services, Inc. (ISTS).

^7. The A.M. Best rating assigned on August 17, 2023, reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by. A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.

Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Moments, Foresters Renew, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.

SOURCE The Independent Order of Foresters