Students Urged To Apply For BFIS Scholarships

May 3, 2022 | 0 Comments

The Bermuda Foundation For Insurance Studies [BFIS] has extended the deadline for scholarship applications to next Monday, May 9th.

A spokesperson said, “Because of concerns over low numbers of scholarship applications this year, BFIS has made the decision to extend its scholarship deadline from tomorrow, May 4th, to next Monday, May 9th.

“This will hopefully give those students seeking funding for further education the additional time needed to complete their profiles on and submit their applications as soon as possible in order to be considered for scholarship funding.

“Most parents are aware that the cost of attending college today is huge and there is no question that most students require scholarship funding in order to obtain a degree.

“The average cost for attending a UK university today is around $35,000 per annum and there is the added benefit now that Bermudian students are eligible to apply for tuition loans. The average annual cost of Canadian tuition is slightly more at around $40,000, while US universities tend to cost $45,000 and above annually.

“The criteria for applying for BFIS scholarship awards is quite broad, with eligible subjects ranging from Business and Accounting to Legal studies and Information Technology. Students applying for the scholarships are generally considering careers in the insurance industry in a variety of positions, including broking, underwriting and actuarial.

“Similarly, the scholarship award levels are fairly broad, ranging from $10,000 to $25,000 annually. Students receiving BFIS awards are also allowed to accept other awards, thereby greatly assisting with the cost of attending college.

“Scholarships of varying amounts are being offered this year by Axis, MS Amlin, CG Group and Argo, with 2 new awards offered by Relm and Fortitude. Of course there are also the regular BFIS awards which are available as well as a special Brian R. Hall Memorial award. Brian, the Founder of BFIS, sadly passed away late last year.

“Students are therefore encouraged to submit their applications without delay, if they haven’t already done so.”

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