Spencer awards Undergraduate, Graduate, Ph.D., and Pre-Instructor of Practice scholarships to students enrolled at an accredited college or university in the United States and Canada and physically studying in either location (no remote coursework eligibility from other locations), including part-time Graduate scholarships to Risk Management & Insurance professionals continuing their education.
Since 1980, Spencer has invested over $10.2 million in the Scholarship program, with awards to over 1,600 students. More than 85% of Spencer Scholarship recipients remain in the industry to this day.
Undergraduate Scholarships
If prompted to enter a Program Key: Type in the word Spencer to access the application form.
Timeline:
2026 Application Opens: October 1, 2025
2026 Application Deadline: January 31, 2026
Scholarship awardees are typically notified at the end of April (for the following Fall/Spring semester(s)).
Description:
Undergraduate scholarships are awarded in the amount of $7,500, with limited $5,000 scholarships awarded to the highest-ranked freshman and sophomore applicants, and $10,000 scholarships awarded to the highest-ranked applicants.
Spencer awards scholarships to undergraduate students who meet the following criteria:
Must seek a career in Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Must be physically studying in the United States or Canada (no remote coursework eligibility from locations other than USA & Canada).
Preferred (but not required): Majoring/minoring in Risk Management/Insurance or a related field of study (e.g., actuarial science, business, finance, information technology, etc.)
Preferred (but not required): Relevant work/internship experience and leadership skills.
Full-Time Master’s Scholarships
If prompted to enter a Program Key: Type in the word Spencer to access the application form.
Timeline:
2026 Application Opens: October 1, 2025
2026 Application Deadline: January 31, 2026
Scholarship awardees are typically notified at the end of April (for the following Fall/Spring semester(s)).
Description:
Spencer awards $10,000 scholarships to students pursuing a master’s degree who meet the following criteria:
Must seek a career in Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Must be physically studying in the United States or Canada (no remote coursework eligibility from locations other than USA & Canada).
Must be majoring or minoring in Risk Management/Insurance or a related field of study (e.g., actuarial science, business, finance, information technology). A Risk Management/Insurance major/minor is preferred, but applicants in related fields of study will be considered.
Relevant work/internship experience and leadership skills preferred.
Part-Time Master’s Scholarships
If prompted to enter a Program Key: Type in the word Spencer to access the application form.
Timeline:
2026 Application Opens: October 1, 2025
2026 Application Deadline: January 31, 2026
Scholarship awardees are typically notified at the end of April (for the following Fall/Spring semester(s)).
Description:
Spencer awards Part-time Master’s Scholarships of up to $10,000 to risk practitioners who attend graduate school part-time while working full-time. Spencer awards scholarships to Part-Time Master’s students who meet the following criteria:
Must be studying Risk Management, Insurance, Actuarial Science, or a related field of study.
Must be enrolled part-time while working in the risk/insurance field full-time.
Must be physically studying in the United States or Canada (no remote coursework eligibility from locations other than USA & Canada).
Must provide documentation outlining your employer’s tuition reimbursement policy.
Pre-Dissertation Ph.D. Candidates, Doctoral Candidates, and Pre-Instructor of Practice Scholarships
Timeline:
2026 Application Opens: December 1, 2025
2026 Application Deadline: March 1, 2026
Scholarship awardees are typically notified at the end of April (for the following Fall/Spring semester(s)).
Description:
The Spencer Educational Foundation is passionate about supporting future professors who will impact the education of risk management and insurance students. Spencer awards $10,000 scholarships to pre-dissertation Ph.D. Candidates, Doctoral Candidates, and Pre-Instructor of Practice Candidates who meet the following criteria:
Ph.D. and Doctoral Candidates:
Must be studying Risk Management, Insurance, and/or Actuarial Science.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Must be physically studying in the United States or Canada (no remote coursework eligibility from locations other than USA & Canada).
Pre-Instructor of Practice Candidates:
Must have at least five years of risk management and insurance industry experience, be taking graduate-level classes, and be working towards a professional doctoral degree, Juris Doctor, etc. The applicable terminal degree will ultimately be used to teach risk management & insurance or actuarial science courses.
Must be enrolled at an accredited college/university in the United States and Canada for at least one full academic year (two semesters).
Must be physically studying in the United States or Canada (no remote coursework eligibility from locations other than USA & Canada).
Named Scholarships
In addition to our general Spencer Scholarships, all students who apply for a Spencer scholarship will automatically be considered for one of the following Named Scholarship Awards.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who demonstrates great leadership ability.
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Awarded to two undergraduate students pursuing a career in the Risk Management and Insurance industry who identify with a historically underrepresented race/ethnicity.
To learn more, visit www.afgroup.com.
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Awarded to two undergraduate students pursuing a career in Insurance or Financial Services.
To learn more, visit www.alkemeins.com.
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Awarded to an undergraduate student majoring in Risk Management and Insurance, who identifies with a historically underrepresented group.
To learn more, visit www.awac.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry and studying Business, Insurance, or a STEM field.
To learn more, visit www.aaic.com.
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A $10,000 scholarship award to the highest-ranked undergraduate student who displays community service and a strong sense of compassion for others.
This scholarship was established in celebration of Angela Sabatino – often known as “the heart” of Spencer – who retired in 2020 after 33 years of service as Spencer’s Director of Programs.
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Awarded to an undergraduate student pursuing a career in Actuarial Science who identifies with a historically underrepresented race/ethnicity.
Arch scholarship recipients will also be offered an opportunity to participate in Arch’s Internship Program.
To learn more, visit www.archgroup.com/careers/student-graduates.
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Awarded to undergraduate students pursuing careers in the Risk Management and Insurance industry who identify with a historically underrepresented race/ethnicity.
Arch scholarship recipients will also be offered an opportunity to participate in Arch’s Internship Program.
To learn more, visit www.archgroup.com/careers/student-graduates.
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Awarded to two undergraduate students at the University of Illinois at Urbana-Champaign pursuing careers in the Risk Management and Insurance industry who identify with a historically underrepresented race/ethnicity.
This is a two-year scholarship (Junior Year and Senior Year). Recipients will also be invited to participate in a mentorship and summer internship program offered by Argo Group. Note: Students must reapply to be eligible to receive the second scholarship award in their senior year.
To learn more, visit www.argogroup.com.
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Awarded to an undergraduate student majoring in Risk Management and Insurance.
This scholarship was created in memory of the first Chairman and Chief Executive Officer of AXA XL, the late Ian R. Heap.
To learn more, visit https://axaxl.com/about-us/careers.
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Awarded to an undergraduate student majoring in Risk Management and Insurance who is a permanent resident of New York City, NY.
This scholarship is made possible through the generosity of Chubb in honor of the late William J. Clagnaz.
To learn more, visit https://careers.chubb.com/global/en/north-america.
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Awarded to an undergraduate student with a major or minor in Risk Management and a minor in Information Technology or Business Analytics.
Elizabeth Lisle is a Spencer Scholar alumna who received a scholarship in 1995, 1996, and 1997.
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Awarded to two undergraduate students pursuing careers in the Risk Management and Insurance industry.
To learn more, visit www.fm.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry.
Gabe Cossio is a Spencer Scholar alumnus who received an Undergraduate Scholarship in 2010.
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Awarded to two undergraduate students pursuing careers in the Risk Management and Insurance industry who identify with a historically underrepresented race/ethnicity.
To learn more, visit www.hylant.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry.
To learn more, visit www.iatinsurancegroup.com/careers.
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Awarded to undergraduate students pursuing careers in the Risk Management and Insurance industry.
This scholarship was created in memory of the late John T. “Jack” Lockton.
To learn more, visit https://careers.lockton.com.
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$10,000 scholarship awards to the highest-ranked undergraduate students pursuing careers in Risk Management and Insurance who plan to pursue careers in actuarial science, analytics, claims, risk control or underwriting.
To learn more, visit https://jobs.libertymutualgroup.com/careers/undergraduate-internships/.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who identifies as female. Preference will be given to students with volunteer, tutoring, or mentorship experience.
To learn more about Millie Workman and her legacy, read this press release: www.spencered.org/news-blog/2025/2/12/mother-daughter-duo-gives-back-to-the-industry.
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Awarded to an undergraduate student who identifies as female and with a historically underrepresented race/ethnicity. The student must have passed at least one actuarial exam and must be legally eligible for employment within USA, now and in the future, without any visa or immigration sponsorship.
To learn more, visit https://us.milliman.com/en/.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who identifies as female. Preference will be given to students residing in the Southeastern region of USA.
To learn more, visit www.marshmma.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who identifies with a historically underrepresented group.
To learn more, visit www.phly.com.
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Awarded to an undergraduate student who identifies as part of the LGBTQIA+ community. Preference will be given to students from the Philadelphia area or attending a university there.
To learn more, visit www.philadelphia.cpcusocietychapter.org.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry. Preference will be given to students who display a keen interest in Property insurance.
This scholarship is a tribute to the late Rick Miller, a revered figure in the insurance industry known for his unparalleled expertise in property coverage. Throughout his career, Miller made significant contributions as both an underwriter and broker, leaving a lasting impact on the property insurance sector. Miller passed away in April 2024 at the age of 62.
To learn more and donate, visit https://givebutter.com/RickMillerScholarship.
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Awarded to an undergraduate student majoring in Risk Management and Insurance, who is a permanent resident of Georgia.
This scholarship was created in memory of Edgar J. Leverett, founder of the University of Georgia risk management and insurance program.
To learn more, visit www.atlantarims.org.
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Awarded to an undergraduate student majoring in Risk Management and Insurance, who is a permanent resident of Georgia.
To learn more, visit www.atlantarims.org.
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Awarded to an undergraduate student majoring in Risk Management and Insurance, who is attending a university in Illinois, Indiana, Iowa, Michigan, or Wisconsin.
To learn more, visit www.chicagorims.org.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry, attending a university located in or near the Connecticut Valley, or a student native to Connecticut who is attending an out-of-state university.
To learn more, visit www.ctrims.org.
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Awarded to an undergraduate student majoring in Risk Management and Insurance, who is a permanent resident of Texas. This scholarship was created by the DFW RIMS and named in honor of the life and legacy of Gabriel Lugo.
To learn more about DFW RIMS, its events, and social initiatives, visit www.dfwrims.org.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry, who is a permanent resident of New Jersey or attending a New Jersey institution.
To learn more, visit http://newjersey.rims.org/home.
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Awarded to an undergraduate student who is based in New York City and pursuing a career in the Risk Management and Insurance industry.
This scholarship was created in honor of the memory of the New York RIMS Chapter’s past president, Dante Petrizzo.
To learn more, visit www.nyrims.org.
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Awarded to an undergraduate student who is based in the tri-state area and pursuing a career in the Risk Management and Insurance industry.
This scholarship was created in honor of the life of Thomas M. Regan, a past RIMS New York Chapter president who perished in the September 11, 2001, World Trade Center terrorist attack.
To learn more, visit www.nyrims.org.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry, attending a university located in or near the Southern California area.
To learn more, visit https://rims.connectedcommunity.org/ocrims/home.
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Awarded to an undergraduate student majoring in Risk Management and Insurance.
To learn more, visit www.rims.org.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who identifies with a historically underrepresented race/ethnicity.
To learn more, visit www.risk-strategies.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry.
This scholarship was created in memory of the late Robert E. and John P. Gallagher.
To learn more, visit www.ajg.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry who identifies with a historically underrepresented group. Preference will be given to students residing in the Southeastern region of USA.
To learn more, visit www.rsui.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry.
This scholarship was created by Sedgwick in memory of its late chief operating officer, Steve Penman.
To learn more, visit www.sedgwick.com.
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Awarded to undergraduate students pursuing careers in the Risk Management and Insurance industry who are enrolled at the following universities: St. John’s University, St. Joseph’s University, or the University of South Carolina.
To learn more, visit www.targetmkts.com.
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Awarded to two undergraduate students pursuing careers in the Risk Management and Insurance industry. Preference will be given to students residing in or near Hartford, CT, or St. Paul, MN.
To learn more, visit https://careers.travelers.com.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry within the State of Georgia.
Young Risk Professionals (YRP) was founded in 2013 with a focus on connecting professionals in the Risk and Insurance industry. Our mission is to impact the next generation of leadership within our industry through networking, mentoring, and education.
To learn more, visit www.youngriskprofessionals.org/atlanta.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry within the North Florida region.
Young Risk Professionals (YRP) was founded in 2013 with a focus on connecting professionals in the Risk and Insurance industry. Our mission is to impact the next generation of leadership within our industry through networking, mentoring, and education.
To learn more, visit www.youngriskprofessionals.org/northflorida.
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Awarded to an undergraduate student pursuing a career in the Risk Management and Insurance industry.
To learn more, visit www.zurich.com/en/careers.
Named Scholarships - Graduate Level
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Awarded to a graduate student attending a university located in (or surrounding) the State of New Jersey on a full-time or part-time basis.
To learn more, visit http://newjersey.rims.org/home.
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Awarded to a member of RIMS who is a practicing risk professional pursuing a part-time Master’s degree.
To learn more, visit www.rims.org.
Disclosure
*At Spencer, our working definition of “Historically Underrepresented Groups” refers to groups who have historically faced institutional discrimination in the United States, resulting in a lack of proportional representation in the risk management and insurance industry. These groups may include but are not limited to: historically underrepresented racial/ethnic groups, including individuals who identify as Black, Afro-Caribbean, African, East Asian, Latinx, Hispanic, Middle Eastern, Arab, Native American, Alaskan Native, Native Hawaiian, Pacific Islander, and/or South Asian; gender non-binary or gender non-conforming people; LGBTQIA+ people; veterans; and people with disabilities.
Non-Discrimination Policy
Spencer awards scholarships on the basis of merit, and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, age, disability, marital status, citizenship, national origin, or military status.
More Details
If you would like general information about our Scholarship program, please email our University Partnerships Director: Ken Goldstein.
If you have technical questions about your undergraduate, full-time master’s, or part-time master’s application, please email our vendor partner: contactus@applyists.com.
To review a listing of the current Spencer scholarship award recipients (Spencer Scholars), please click HERE.
Spencer Scholar Testimonials
Watch the videos below from Spencer Scholars as they describe how the scholarship has impacted their personal and professional development. These insights highlight the transformative effects of the scholarship on their education journeys and future aspirations. Each Spencer Scholar shares their unique experiences, illustrating the diverse ways in which financial support has enabled their growth and opportunities in the Risk Management & Insurance industry!