Foundation for Accounting Education Presents Excellence in Accounting Scholarship

The purpose of the Excellence in Accounting Scholarship of the New York State Society of Certified Public Accountants (NYSSCPA) and its Foundation for Accounting Education (FAE) is to provide financial assistance to encourage and aid deserving candidates to enter the accounting profession. Accordingly, scholarship awards will be based heavily on financial need. At the same time, applicants must meet or exceed a threshold of acceptable academic performance. The program is administered by the FAE, a 501(c) (3) foundation.

ELIGIBILITY REQUIREMENTS

Applicants must:

• have declared a major in accounting as described below and, if applicable, been accepted to that major.
• be residents of New York State and either U.S. citizens or permanent residents. If you are not a U.S. citizen or do not have a permanent resident visa, you are NOT eligible for a scholarship and should not submit an application.
• be enrolled at or accepted to a New York State college or university that offers an accounting program(s) registered by the New York State Education Department as meeting the educational requirements for admission to the CPA examination (hereafter designated as a “Registered College”).
• have completed a minimum of 72 credit hours by April 2, 2012, and 84 credits by the start of the Fall 2012 semester. Part-time students or students whose programs have followed an irregular pattern must be at an equivalent stage. In addition, such students must have successfully completed one semester of the colleges intermediate accounting course(s).
• have achieved an overall cumulative grade point average of 3.0 or higher (based on a four-point system) for the above 72+ credit hours as of April 2, 2012, and maintained a grade point average of 3.0 or higher.
• have completed and filed an FAFSA application and been approved for financial aid; if you have not applied and been approved for financial aid, you are not eligible for the scholarship and should not submit this application.
• have an FAE Campus Liaison or Department Chair approval (see THE APPLICATION PROCESS).

Spring 2012 disbursement will require verification of a 3.0 GPA at the end of the Fall 2012 term.

AMOUNT AND DURATION OF SCHOLARSHIP

1. The scholarship is based upon a full year of academic study. The amount of the scholarship shall be $2,500 for full-time study (see 2 below) and $1,250 for part-time study, payable on a term basis. Payments will be issued twice during the academic year—September and February. They will be made copayable to the student and the school. The scholarship award will be reduced for students enrolled for less than a full year and will be based upon the terms completed. There is no provision for support for Summer session courses.

2. Applicants must be enrolled for at least 12 semester credits to receive a full scholarship; applicants enrolled in six to 11.5 credits per semester shall be eligible to receive a partial scholarship; applicants enrolled for fewer than six credits are not eligible for an award.

3. Recipients must submit a renewal form to their Campus Liaison or, for schools without Liaison, their department chair. This form will be e-mailed to Liaison in January. The scholarship renewal is for the second semester payment only. A second year of funding is not guaranteed, though students may reapply through the regular competitive process.

4. Requests for consideration of special circumstances, such as deferral of a scholarship during a period of leave of absence, may be made to the FAE Scholarship Committee.

To learn more about the New York State Society of CPAs and programs for future CPAs, visit www.nysscpa.org. For further information, please contact Philip Federowicz by e-mail at pfederowicz@nysscpa.org.

THE APPLICATION PROCESS

Check out some of the benefits:

• Opportunities to Network: Improve your chances of finding a great job with access to thousands of accounting professionals through participation in one of 15 local NYSSCPA chapters or more than 60 committees across New York State.
• The CPA Journal: A $21 value! Get the most timely analysis, debate, and interpretation of current issues in the accounting profession delivered to your door.
• The Trusted Professional: A $15 value! The Society’s newspaper that provides accounting and NYSSCPA news.
• Group Discounts: Obtain discounts that are tailor-made for students, including great rates on credit cards.
• Technical Assistance and Know-how:The Society is a valuable resource for all your accounting, auditing, and tax questions.
• Discounted Professional Education: All of our seminars and conferences are available to all of our members at a discount.
• Online 24/7: Access virtually all our services via the Web at your convenience.
• Political Advocacy: Our Our 30,000 members mean our voice—and yours—will be heard in Congress and the state Legislature.

To apply online, click here.

To request an application form by mail, contact the Membership Department at 1-(800) NYSSCPA.

For further information about the dues structure, click here.

2011 FAE Scholarship Winners

Useful Links for College Students

• Beta Alpha Psi: The premier national financial honors fraternity for financial information professionals. Check out this site for their calendar of events, chapter handbook, available scholarships, and job links.

• The official student Web site of the American Institute of Certified Public Accountants (AICPA): Find out more about the best college accounting programs, how to become a CPA, and career opportunities.

• How to become an accountant in New York State: Find out what you need to do to take the first steps toward becoming a CPA in New York State.

• Information about the CPA Examination: Learn everything you need to know about the CPA licensing examination.

• Learn more about what an entry-level accountant really does: Check out this site for detailed information about jobs in the accounting field.

• Career Opportunities Handbook: A valuable resource for internships and entry-level opportunities that provide valuable work experience.

• Search for jobs: Visit this independent online career site for accounting and finance professionals.

• Occupational Outlook of Accounting Jobs: The Bureau of Labor Statistics provides further information about the nature of the work, employment data, training and qualifications, job outlook, and salary information.

• Salary information: An accounting career provides individuals with competitive entry-level salaries and long-term growth potential, especially if you’ve earned your CPA designation.