The Willard Schmidt Family Scholarship: A Comprehensive Guide
The Willard Schmidt Family Scholarship is a privately funded scholarship program that provides substantial financial assistance to eligible students chasing an undergraduate degree in the United States. In this guide, we will outline all the key details about this scholarship, from eligibility requirements to application procedures to award amounts.
Background and History
The Willard Schmidt Family Scholarship was established in 2002 through an endowment from the estate of Willard Schmidt, a successful entrepreneur from Des Moines, Iowa, who passed away at the age of 84. Willard never had children of his own but strongly believed and was optimistic about the importance of higher education and wanted to help deserving students achieve their educational dreams. Through his various business ventures over many decades, he amassed a sizeable fortune that allowed him to establish this scholarship program upon his passing.
Willard was born in 1918 in a small farming community in central Iowa. He left home after high school to attend the University of Iowa, studying business administration. Faced with having to finance his education, Willard took out student loans and worked multiple jobs to pay tuition and expenses. He often remarked that without the ability to borrow funds for the school, he would never have been able to graduate from college. After obtaining his degree in 1941, Willard started his first small business in Des Moines.
Over the next 60 years, through hard work and smart investments, Willard grew his business interests into a diverse portfolio that included real estate development, insurance, and media holdings. By the late 1990s, he had accumulated a personal net worth estimated at over $250 million. As he got older and had no heirs, Willard decided the best way to give back was to endow a substantial scholarship fund to help today’s students pay for college in the way that loans had helped him so many years ago. Thus, the Willard Schmidt Family Scholarship was born.
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Eligibility Requirements
Applicants must meet the following criteria to be considered for a Willard Schmidt Family Scholarship award:
U.S. Citizenship
Applicants must be United States citizens or eligible noncitizens (e.g., permanent residents). International students are not eligible.
Academic Merit
Applicants must have a minimum cumulative high school GPA of 3.5 on a 4.0 scale or be in the top 10% of their graduating class.
Financial Need
The Willard Schmidt Family Scholarship utilizes a needs-blind application process, but final awards are given based on demonstrated financial need. Applicants must complete the FAFSA and pertinent financial aid forms.
Enrollment Status
Applicants must be enrolling full-time in a bachelor’s degree program at an accredited four-year college or university in the United States for the upcoming academic year.
Field of Study
The scholarship can be used for any course of study leading to a bachelor’s degree. There are no restrictions on majors.
Application Process
The application for the Willard Schmidt Family Scholarship typically opens in early January each year, and the deadline is usually the last day of February. Applicants will need to submit the following:
- Completed online application form
- Official high school transcript
- Two letters of recommendation (one academic, one personal/character)
- A 500-word personal essay discussing career and educational goals
- FAFSA Student Aid Report (SAR)
There is no application fee to apply. Notified applicants may also be required to participate in one or more virtual interviews as part of the selection process. Final award decisions are typically made by the end of April, and recipients are notified shortly thereafter.
Award Amounts
Willard Schmidt Family Scholarships are four-year renewable awards provided the recipient maintains satisfactory academic progress. Annual award amounts range from $5,000 to $25,000 based on financial need.
The average annual award is approximately $15,000. Multi-year scholarship totals can reach up to $100,000 for the highest achieving applicants with the greatest financial need. Scholarship funds may be used for any education-related expenses, including tuition, fees, books, housing, and living expenses.
Maintaining Eligibility
To renew the Willard Schmidt Family Scholarship for the second, third, and fourth years, recipients must:
- Maintain continuous full-time enrollment
- Earn a minimum cumulative 3.0 GPA
- Submit annual renewal application materials
- Continue demonstrating financial need
- Adhere to all university conduct policies
Scholarships may be revoked or future disbursements withheld if recipients fail to meet these minimal renewal criteria. Open communication with the scholarship program is important to ensure continued eligibility.
Impact and Ongoing Support
Since its inception 20 years ago, the Willard Schmidt Family Scholarship has awarded over $30 million to over 2,000 highly achieving students across the United States. This has helped hundreds of young people complete bachelor’s degrees who otherwise may not have been able to afford higher education.
Beyond the substantial financial awards, Willard Schmidt scholars gain access to mentorship opportunities, exclusive internships, career exploration services, and an alumni network of peers and professionals. The Schmidt Family Foundation also holds annual conferences to bring together current scholars for networking, leadership development workshops, and insight into post-graduate opportunities.
Overall, the program aims not just to seed scholars’ undergraduate education but to set them up for long-term personal and professional success after graduation. With prudent stewardship of the endowment, the Willard Schmidt Family Scholarship intends to support aspiring students for generations to come. Its impact will undoubtedly grow even larger in the decades ahead.
FAQs
How competitive is this scholarship?
The Willard Schmidt Family Scholarship is extremely competitive, with over 5,000 applicants each year vying for around 100 annual awards. On average, only about 2% of applicants are selected to receive a scholarship. Top students with demonstrated leadership qualities and financial need have the best chances.
What are the biggest factors in the selection process?
Academic excellence, as evidenced by a high GPA and class rank, is the first and most important selection factor. Beyond grades, strong personal character and leadership potential, as conveyed in essays and recommendations, also carry significant weight. Financial need plays a major role as well in determining final award amounts.
Can international students apply?
No, eligibility is strictly limited to United States citizens and eligible noncitizens (e.g., permanent residents or eligible visa types). Students requiring an F-1 student visa to study in the U.S. are not able to receive this scholarship.
Can the scholarship be deferred?
Yes, under special circumstances deferral of a Willard Schmidt scholarship for up to one year may be possible (e.g. volunteer service, religious mission, medical reasons). Deferral requests must be submitted in writing and are subject to committee approval on a case-by-case basis.
What if a student’s financial need decreases?
If after receiving the scholarship a recipient experiences significant positive changes in financial circumstances (e.g. additional grants/scholarships, windfall gifts), they may need to notify the program administrators. The award amount could potentially be reduced going forward depending on a reassessment of current needs. All scholars expect complete financial transparency.
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Conclusion
The Willard Schmidt Family Scholarship has become one of the nation’s most prestigious and substantial privately funded merit-based scholarship programs after two decades of supporting high-achieving students. It is a testament to Willard Schmidt’s enduring commitment to expanding access to higher education and investing in our future leaders and workforce.
For eligible applicants with strong academic and financial needs, this scholarship represents an incredible opportunity to fund their entire undergraduate education. The non-monetary benefits of leadership development, networking, and career guidance are just as valuable. Overall, the Willard Schmidt program has changed thousands of young lives and advanced educational opportunities across America through one remarkable man’s vision and generosity. Any accepted scholar would be fortunate and grateful for this life-changing award.
