Colonial Offering $25,000 Education Scholarship
A local insurance company is urging students interested in a career in the insurance industry to apply for a $25,000 scholarship.
Through the Bermuda Foundation for Insurance Studies [BFIS], Colonial Group International Limited, a patron member of BFIS, provides a $25,000 scholarship for up to two years to a junior or senior university student pursuing an undergraduate degree at an accredited university who intends to pursue a career in local insurance.
The scholarship is intended to assist with the cost of tuition, books, accommodation and food.
Alan Peacock, President and CEO of Colonial Group International, said: “We have been providing this sponsorship since 2006 as part of our commitment to helping members of our community to further their education and careers in insurance.
“As a local company we believe in investing in our young people to help them attain the best education and training.
“With summer employment possible, along with Colonial’s participation in the BFIS Summer Intern Programme, Colonial provides opportunities for our scholarship recipient, as well as other students, to gain first-hand knowledge about the local insurance industry.”
Bermudian Magic Boyles [pictured] a 29-year-old former CedarBridge student, is currently studying for his undergraduate degree in Risk Management and Insurance at St. John’s University, in New York. He plans to work in New York for a year then return home to work in Bermuda.
“I received the scholarship in July 2012. My academic achievements from Bermuda College played a role in me landing the scholarship but I believe it was my years of community service that was heavily considered by the scholarship committee,” said Magic.
“If I had not received the Colonial scholarship, my first alternative would’ve been to try and get a loan from the bank.
“If that wouldn’t have worked out, I would’ve stayed in Bermuda and worked for the next year while doing whatever I can to make myself more marketable and appealing to any scholarship donors.”
He added: “University tuition and fees along with the cost of living while in university is really expensive. Having a scholarship is a tremendous help to offsetting these costs.
“I encourage anyone who is planning to pursue a further education to apply for this scholarship and move towards achieving your goal of obtaining a higher education overseas.”
BFIS manages the application process and the scholarship itself is currently posted on www.bermudascholarships.com. The closing date is April 30, 2015.
A spokesperson said, “It is available to Bermudians or PRC holders, or those eligible to acquire a PRC, who are Undergraduate university students in their junior or senior year [i.e. in their third or fourth year] at an accredited university with a minimum GPA of 3.0 [or UK equivalent] who are studying Insurance, Risk Management, Mathematics, Economics, Business or Commerce.
“Financial need is taken into consideration and summer employment is available at Colonial.”
Mr Peacock added: “Since 2006 there have been five recipients of the BFIS/Colonial Scholarship. The most recent recipient is scheduled to complete his studies this year while two others are already employed in their field of studies.”
We thank them at Colonial Insurance for extending their help to the many needing help so they too may attain their goal/s. Good luck to everyone that’s awarded the $25,000:00 Education Scholarship.
Note: BFIS manages the application process and the scholarship itself is currently posted on http://www.bermudascholarships.com. The closing date is April 30, 2015.