Foresters Financial opens applications for its 2021 scholarships
Dec 02, 2020, 09:44 ET
In 2020, over USD$460,000 awarded across 250 new recipients
TORONTO, Dec. 2, 2020 /PRNewswire/ - Foresters Financial™ (Foresters), the purpose-driven fraternal life insurer, today announced that it has launched applications for its members and their families for its scholarships for the 2021 academic year. Applications for eligible students can be submitted from December 2, 2020 through February 26, 2021. Learn more at the scholarship landing page.
To be eligible for consideration, applicants must be a Foresters member, a member's spouse, child, grandchild, or under the legal guardianship of a Foresters member. A minimum number of volunteer hours (40) and a minimum GPA (2.8) is required.
To ensure complete impartiality in the selection of winners, and to maintain a high level of professionalism, 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, a Recommendation Letter, and an Essay: 65%; and Grades: 35%.
In 2020, over USD$460,000 awarded across 250 new recipients
As an element of its dedication to giving back, the life insurer has awarded 250 renewable tuition scholarships each year for the past eight years to young leaders who are committed to helping their communities through volunteering. In total, $463,000 has been awarded across this year's 250 recipients – 170 of whom are from the U.S., 80 from Canada. Additionally, 582 scholarships are being renewed for recipients from previous years. Since 2012, Foresters has awarded over 6,500 tuition scholarships internationally, an investment of more than $21.5 million.
Average of 303 hours of volunteer work/3.75 GPA
This year's recipients had an average of 303 hours of volunteer service, and an average high school GPA of 3.75. Most are going into their first year in fall 2020 and all are pursuing post-secondary education at an accredited university, community college, or trade program. In line with Foresters values, many are entering programs focused on helping others, including healthcare, teaching, and social work.
Please find profiles for the recipients at this link.
Life Insurance with a Larger Purpose
Scholarships are part of Foresters Life Insurance with a Larger Purpose strategy to provide insurance offerings that align with Foresters fraternal purpose of enriching the well-being of hard-working families and their communities. Foresters members receive a full suite of unique benefits1, including competitive academic scholarships, orphan benefits, and complimentary access to diabetes management tools, learning and development resources, and online legal document preparation services. Importantly, they also include opportunities for members to give back to their communities through local market activities such as playground builds, and especially through Community Involvement Grants.
This year, Foresters Caring Through Crisis (CTC) grant program supported members and their communities across Canada, the UK, and the US through COVID-19. CTC grants provide funding for a member to address a COVID-19 need in their communities. This enables them to live the Foresters mission of helping others, while remaining safe and physically apart. Over 1,700 Caring Through Crisis grants have been funded to a total of over $500,000 since the program's launch.
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 20 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best2. For more information please visit foresters.com
For information purposes only.
™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.
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1 Description of member benefits that you may receive assumes you are a Foresters member. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice |
2 The A.M. Best ratings assigned on August 5, 2020 reflect overall strength and claims-paying ability of The Independent Order of Foresters (IOF). 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. In assigning the ratings for IOF, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings |
SOURCE The Independent Order of Foresters
