GAR Memorial Foundation
Requirements and Selection Process
  1. Applicants must be dependent children of full-time employees in the financial services industry (commercial banks, investment banks, securities brokerage firms, insurance companies, fund and asset management companies, credit card and finance companies and similar businesses as determined by the Foundation). Employees must be presently employed with five years of experience OR no longer employed in this field but had ten years of experience which ended no longer than five years prior to the GAR Scholarship application closing date (which is located on the top of the application).
  2. Students must be graduating high school seniors who are enrolling as full time first year students in pursuit of a four-year bachelor's degree at an accredited college/university in the United States.
  3. Students must have a minimum grade point average of 3.5 (on a 4.0 scale) and rank in the top 20% of their class.
  4. Students must demonstrate financial need.
  5. Students must be a US citizen or legal resident.


Continuing Eligibility/Renewal Requirements
The Gordon A. Rich Memorial Foundation requires an annual review of each scholarship award to determine renewal eligibility. Recipients must maintain full-time enrollment status and be in good standing with their college to have the award renewed for the next academic year. GAR Scholars are expected to exhibit satisfactory citizenship in both the academic community and in the community at large. Therefore, recipients may not be on any form of academic probation or suspension. In December of each year, a renewal form is sent to each recipient. In April of each year, a letter is sent to each recipient requesting confirmation of full-time enrollment status and intent to maintain that status, a current academic transcript, and a detailed update on the courses, projects, and activities with which the recipient has been involved during the current award year.


Parkman Prize
All GAR scholars are eligible for a special award the "Parkman Prize." This $5,000.00 award, named after one of GAR's most generous donors, is given to the scholar with the highest GPA in each academic year.


Selection Process
An independent scholarship committee - Scholarship America - will be evaluating student credentials. Members of the GAR Foundation are not part of the initial selection process. From the pool of applicants, a select group of potential GAR Scholars will then be presented to the GAR Foundation. They will in turn select the GAR scholarship winners.

All materials submitted to support a scholarship application are used only in the selection process. The folder of a scholarship recipient will remain in active status during the period the scholarship is in force and will be retained for one year thereafter. All records are confidential and available for reference by Scholarship America and the GAR Foundation.

Selection Procedures
Scholarship application forms and directions for completing the forms can be accessed through our website. Applications will require:

  • Applicant Data
  • Parent/Guardian Information
  • Applicant Appraisal to be completed by a high school counselor or a teacher from your junior or senior year
  • An essay response to a given prompt (500 words or less)
  • An official transcript of grades from each school attended
  • Cumulative GPA
  • Standardized test scores (SAT or ACT) and class rank are not required but are helpful in the selection process.

Applications and all supporting materials must be submitted directly to Scholarship America.


Selection Criteria for "GAR Scholars"

  • Academic record and grade point average
  • High school activities and demonstrated leadership
  • Responses to questions on the application form
  • Demonstrated financial need

Academic Talent
GAR Scholars must have high grades; not necessarily the highest, but in the top 20%. It is essential that the applicant has already demonstrated academic excellence and/or creativity in some subject area of inquiry. An example would be experience or achievements in research. GAR is looking for students who have challenged themselves with their academic programs and who demonstrate a passion for learning.

Extracurricular Activities
GAR is seeking the student with an "extra dimension" which can often be demonstrated through extracurricular activities. GAR considers both "well rounded" people who have contributed in many different ways to the lives of their schools or communities as well as those who have pushed a single endeavor to the highest level of recognized achievement. Extracurricular successes can come in virtually limitless forms. Examples include athletics, community service, media and journalism, and the visual and performing arts.

Financial Need
GAR Scholars must demonstrate financial need. GAR's mission is to help excellent students with financial need to face less educational debt on graduation. GAR scholarships will enable a student to have more time to concentrate on the academic and extracurricular opportunities that made them GAR Scholars in the first place.

Financial need will be determined by examining the information provided by each student on the application.

There will be no such thing as a "typical" GAR Scholar. GAR Scholars will all have certain similarities: exceptional talent, dynamism, passion and financial need. But as a group they will reveal a diverse mix of activities, interests and accomplishments as well as religion and ethnicity.

Applications for students who will be high school seniors in 2023 will begin being accepted on September 19. Completed applications must be received no later than Tuesday, February 20,2024.

College scholarship money is available to offspring of those working in the financial services industry. Each GAR scholarship is worth up to $50,000 (approx. $12,500 per year) awarded to bright, hardworking high school seniors who have a financial need.
Please read the requirements and fill out an application form. The Gordon Rich Foundation provided $236,000 in college scholarships last year. We currently support 33 students in colleges across the country and have 90 alumni. Any questions please email

Our annual fundraising event was held on October 13, 2023.
Board members, current GAR scholars, GAR scholar graduates and many supporters attended. What a successful event!

If you would like to contribute to GAR, either with an endowment pledge or a one-time gift, click here for the payment and pledge form. Or you can contact us at

In order to qualify for the GAR scholarship, parents and/or legal guardians of the student applying must have, or had, a career in the financial services industry. Click here for the definition of Financial Services and Master List of Companies.

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