Many financial institutions and banks have a vested interest in supporting those that are pursuing higher education degrees. Because college and university educations require much funding, there are many times that banks will provide backing for loans and offer discounts to students. These monies, though, are not free and will need to be paid back. But, this isn’t the only type of aid that financial institutions provide, with many banks offering scholarship programs. US Bank is no exception with their aptly named US Bank Scholarship program. You can read more about it, its eligibility requirements, and the application process below.
US Bank is a financial institution that prides itself on educating its bank users on the importance of good financial habits. It is no surprise, then, that one of the main requirements of the US Bank Scholarship involves a level of financial education. Specifically, all applicants must successfully complete eight different—albeit short—education modules on the importance of healthy financial habits. This is meant to help students to learn more about money and how to protect it. Further, this portion of the US Bank Scholarship also offers individuals the opportunities to learn more about the US Bank brand, an indirect promotion by the bank itself. Please note that for bilingual students that are more comfortable using Spanish as a first language, these modules are available in this language as well.
Application and Eligibility
Aside from the education portion of the application process, the US Bank Scholarship program does require individuals to fill out a more traditional application which can be found online. This includes demographic questions, socioeconomic information, and covers financial need of the student as well. Certain application questions are voluntary, including the racial and gender queries which are meant to ensure a diverse applicant pool. It is up to the individual applicant how much of this demographic information that they wish to provide, outside of the required questions.
Those who apply for the US Bank Scholarship, fill out the necessary application, and are drawn from the applicant pool can expect a very nice reward. This scholarship provides each winner with a one-time financial prize in the amount of $5,000. This money is to help defray the cost of education and its related supply needs, such as room and board, housing, food, and books. Though relatively unrestricted, documentation regarding the use of these funds may be required. Be sure to check out their website and the application link provided below in order to ensure that all application and recipient requirements are met.
The US Bank Scholarship is awarded at random. Individuals who apply and fill out the application have an equal shot at receiving the awards, assuming that they have met all the general application requirements. Those that complete the education portion successfully can receive more entries into the drawing. But, the drawing is at random to prevent biasedness and ensure that candidates are all on equal footing. To apply or for more information on the application and eligibility requirements, click here.