Abacus Life is a life insurance policy seller in the United States that seeks to create financial security for seniors around the country. As a company in the financial sector, the firm acknowledges the importance of extra financial assistance to college-age students. As such, this scholarship is an initiative by the organization to recognize and award students who are involved in their communities.
The scholarship is open to all students in four-year colleges or universities in the country. The application process is similarly simple: applicants are required to create a three-minute video on a given prompt. Students are to describe what makes them unique in a video that can be submitted as either a YouTube or Vimeo link.
The scholarship awards $1,000 to the overall winner. This prize money can only be used to offset academic-related expenses at the awardee’s institution of learning. Abacus Life also publishes the winner and their entry on its website, which gives the awardee significant publicity and recognition far more than the scholarship prize money.
Key Information of Abacus Scholarship
Country of Study
Intended Level of Study
Number of Awards
Abacus Scholarship Timeline
Applications for this scholarship competition are open from the beginning of the year.
August 26, 2022
Applications usually close around the end of August.
To be eligible to apply, applicants must meet the following criteria.
- Eligible Grade: College Freshman – College Senior
- Maximum Age: Any
- Required GPA: Any
- Geographic Eligibility: United States
- Gender: Any
Here’s what you need to submits besides your application.
- Video Submission
How to ace the Abacus Scholarship
Follow all instructions keenly
Ensure that you follow all given instructions on the scholarship page to avoid being disqualified unnecessarily. For example, as the length of your video should be three minutes maximum, it would be imprudent to produce one that surpasses this limit.
Create an engaging video
Your video should not only answer the given prompt but should also be engaging and captivating to watch. Focus it on a particular theme and ensure that it is well-lit and has impeccable post-production.
Seek an expert’s help
Creating an engaging video is difficult, especially for people with no prior production experience. Enlist the help of an expert who can assist you in creating a video that not only answers the scholarship prompt but is also pleasant to watch.
Review past winning videos
Abacus Life publishes past winning videos on its website. Review these entries to get an idea of what constitutes an award-winning video.
How the Abacus Scholarship is Judged
Applications are judged based on how well the submitted video answers the scholarship prompt. Submissions that clearly demonstrate why the candidate is unique are likely to emerge as winners. Additionally, these entries answer the “so what” question, which is often silent but requires applicants to describe the implications of what they have said, an example being what impact their uniqueness has or will have on them and their communities.
Why We Love the Abacus Scholarship
It’s a simple application process
Applicants are expected to only create a three-minute video and fill an application form. This simple application process removes a lot of the tediousness that is typical of other scholarships.
Ability to be expressive in video
We find a video entry to be more versatile than a written essay as applicants can express themselves more, as well as tell and illustrate a story that captivates their audience.
Open to all students in the country
The scholarship does not place any restriction on the type of students who can apply as long as they are studying in the United States. Therefore, all can apply regardless of their age, race, gender, and type of program.
5 Facts About the Abacus Life Scholarship
Abacus was founded in 2004
Abacus Life was founded in 2004 in New York and is today a leading buyer of life insurance policies in the country headquartered in Orlando, Florida.
Abacus Life operates throughout the United States
The company has purchased over $2.9 billion policies and is licensed to operate in almost all states in the U.S., except Alaska.
Awarded funds are disbursed to one’s university
The scholarship award prize is not sent to the student but is, instead, transferred directly to their colleges to support the winner’s academic expenses.
The past two scholarship winners are female
Winners of the 2021-2022 and 2020-2021 editions of the scholarship were both female and from different parts of the United States.
Incomplete applications are disqualified
Despite having an easy-to-complete application process, it is important to note that incomplete applications will be immediately disqualified and, for this reason, applicants should be careful while working on their entries.