Paul S. Mills Scholarships

Program Description

The Paul Mills Scholarship program dates back to 1984 and was named in honor of the gentleman who served as the Society of FSP’s second executive vice president. From 1984 through 2012, Paul Mills Scholarships were awarded to FSP members in recognition of their service and to encourage the pursuit of lifelong professional education.

In 2013, the board of trustees began exploring options for making the Paul Mills program more impactful and voted to change the scholarship criteria to benefit students pursuing a degree in a financial services field. The revised requirements are designed to create educational opportunities for the next generation of financial service professionals, specifically for those students with financial need who might not otherwise have the ability to complete their education.

The Paul Mills scholarship program has grown steadily in applications and visibility since its inception. It routinely receives 150 or more applications per year from students attending colleges and universities across the United States and representing a wide spectrum of educational organizations, including large public universities, Ivy League schools, and small community colleges. The total amount of scholarships awarded exceeds $375,000.

Eligibility Criteria

The Paul S. Mills Scholarship program offers scholarships to students pursuing a degree in a financial service related field. This may include finance, accounting, insurance or risk management, actuarial sciences, and personal financial planning.

Who is eligible to apply?

Applicants for Paul S. Mills Scholarships must:

Be a United States citizen or legal resident living in one of the 50 U.S. states, the District of Columbia, or U.S. Territories.
Be a full or part-time student enrolled in a college or university program in the U.S. who has completed the equivalent of one year of credits toward an undergraduate degree or is pursuing a masters or PhD level degree.
Be pursuing a course of study in a financial service field.
Demonstrate financial need by submitting the FAFSA (Free Application for Federal Student Aid) Student Aid Report.

Employees of NAIFA, their respective affiliates and subsidiaries, and any such employee’s immediate family members (spouse, parent, child, sibling and their respective spouses) and those living in their same households, whether or not related, are not eligible to enter or win a scholarship.

What will be awarded?

Twelve (12) students each will receive a scholarship of $1,000. Scholarship checks will be made payable to the school selected by the student and will be mailed to the recipient.

How do I apply?

To apply you must complete an application and write a short essay (500 words) describing why you wish to pursue an education in the financial service field and why the scholarship is important to you. You must also submit a FAFSA Student Aid Report so that financial need can be evaluated.

Applications must be submitted online here during the filing period.

When is the application filing period?

Applications will be available annually as of February 1 and can be submitted between February 1 and 11:59 pm ET on March 31.

How will I be notified?

All applicants will be notified of their status via e-mail no later than June 30. Be sure the e-mail address on your application in active and that you check it routinely.

When will scholarships be paid?

Scholarships will be paid on or about July 1. As noted above, scholarship checks will be made payable to the designated college or university and will be mailed to the recipient. Please make sure to use a current address and email address on your application.

Foundation for Financial Service Professionals

Headquarters

For specific program questions contact: