Scholarship Guidelines

Prospanica, which exists “to empower Hispanic business professionals to achieve their full educational, economic, and social potential,” has established a scholarship program to assist qualified Hispanics to pursue graduate and undergraduate degrees in business.  Scholarships are offered for full-time and part-time study at an AACSB accredited institution of the student’s choice.

 

Eligibility

Applicants to the Prospanica Scholarship Program must:

  • be a United States Citizen or legal permanent resident
  • be of Hispanic/Latino heritage
  • have a minimum grade point average of 3.0 on a 4.0 scale (or the equivalent) OR have a minimum 2.75 GPA on a 4.0 scale (or the equivalent) in combination with two years of full-time work experience.
  • have a Prospanica membership - Member ID required. Click here to join.
  • For the Graduate Awards
    • be enrolled or planning to enroll, no later than fall 2017, in a Master's Degree program in the business school at a college/university in the United States or Puerto Rico accredited by AACSB
  • For the Undergraduate Awards
    • be a junior or senior, no later than fall 2017, pursuing a bachelor’s degree within the business school at a college/university in the United States or Puerto Rico accredited by AACSB.

Awards

The Undergraduate Awards are $1,500.  The Graduate Awards range from $2,000 to $5,000.

Application Process

Start by clicking on the Begin Application link at the bottom of this page.  During the application process, you will be able to save your application and leave the site.  In order to return, you must login again to your Prospanica membership account.  The application must be submitted electronically by 11:59 p.m. Central DT on May 15, 2017.

You may wish to gather the following information that will be needed for the application process:

  • Personal Statement (maximum 300 words/3,000 characters)
  • Prospanica essay
  • College academic information, including complete transcripts of grades from all colleges attended
  • List of work, Prospanica participation, and community service experience
  • Financial information from the family's most recently submitted tax return

Carefully review your application before submission.  We recommend that you print a hard copy of your application for your records.  All application pages with required fields must be completed in the format described in order to submit the application.  Once the application is submitted, no further revisions can be made.

Required Supporting Documents  

To complete your application you must also upload or send the following documents to Prospanica (if mailed, postmarked no later than May 15, 2017):

  • Complete undergraduate and graduate school transcripts of grades from all colleges attended. Grade reports are not accepted.  Online transcripts must display student name, school name, grades and credit hours for each course and term in which each course was taken.
  • Two recommendation forms from professors, advisors, or employers.

You, the applicant, are responsible for gathering and submitting all required information.  Applications are evaluated on the information supplied; answer all questions as completely as possible.  Your application is considered confidential and is reviewed only by Prospanica.
 
Applicants will receive an email confirmation when the electronic application is successfully submitted. Late submissions and incomplete applications will not be considered.  It is your responsibility to contact Prospanica to check on the completeness of your application.

Selection of Recipients

Scholarship recipients are selected on the basis of academic achievement, work experience, personal statement of goals and aspirations, Prospanica participation, community service, recommendations, and a Prospanica essay.  Financial need will be considered for applicants competing for the $5,000 awards.  Instructions for completing the Financial Section of the application are included below.

Selection of recipients is made by a selection committee, judging applicants blindly.  All applicants agree to accept the decision as final.

Applicants will be notified by mid July via email.  Recipients will also receive notification via U.S. mail. Not all applicants to the program will be selected as recipients.  Students may reapply to the program each year they meet eligibility requirements.

Payment of Scholarships

Payments are made in early August.  Checks are mailed to each recipient's home address and are made payable to the school.

Obligations

Recipients are required to notify Prospanica of any change in address, school enrollment, or other relevant

Revisions

Prospanica reserves the right to review the conditions and procedures of this scholarship program and to make changes at any time, including termination of the program.

Questions? Contact us:

Email: scholarships@prospanica.org
Call: 877-467-4622 and ask to speak to the manager of the Scholarship Program

Send all required supporting documents to:

Prospanica Scholarship Program
c/o Prospanica
2711 LBJ Freeway, Ste 800
Dallas, TX 75234

Instructions for Completing Family Financial Information

The Financial section of the application should be completed by parents, guardians, or by the applicant if independent.  Independent is defined as one who is not claimed as a dependent by the parent/guardian for tax purposes.  Information should be from a completed tax return filed with the IRS.

State of Residence is the state where the parents and/or (independent) applicant reside and pay state income tax.

Adjusted Gross Income can be found on IRS Form 1040 and is gross income reduced by specific adjustments allowed by law.

U.S. Federal Tax Paid includes the total amount of federal income tax to be paid as reported on IRS Form 1040.  This is not the amount withheld from employee's paychecks.  (The amount withheld should be adjusted by any refund or additional taxes due.)  Do not report state income tax.

Total Income earned should be reported individually for both parents if applicant is a dependent student, or by the applicant if independent.  Provide information for both natural parents, when possible.  If the student resides with only one parent, financial information must be received from the parent who claims the applicant as a dependent for tax purposes.

Untaxed Income and Benefits include any other income or benefits not included in the adjusted gross income figure.  Do not include untaxed contributions to retirement plans.

Medical and Dental Expenses include only those expenses not paid by insurance.  Do not include premium payments.

Total Cash, Checking, Savings, Cash value of stocks, etc., include liquid assets that can be used for educational expenses.  Do not include IRA, 401k, or other retirement plan funds.

Total Number of Family Members living in the household and primarily supported by the reported income may include: the applicant; the applicant's parents; other children living in the household; dependent college students living away from home; and other people who live in the household and receive more than half of their support from the reported income.

Marital Status is the current status of the person from whom the financial information is submitted.

Of the Total Number of Family Members on Line 8, Number of Students Attending College includes family members attending a two- or four-year college, university, or vocational-technical school at least half-time.  Include the applicant in this number.  Do not include parents.

NOTE: Any exceptions to providing financial information as instructed above must be submitted to Prospanica in writing.