CVS Health Foundation Scholarship Program for Children of Full-time CVS Health Colleagues

Open only to children of full-time CVS Health employees.

CVS Health has a long tradition of supporting the academic aspirations of young scholars. One of the ways we achieve this is by offering children of full-time colleagues the opportunity to apply for a CVS Health Foundation Scholarship, funded by the CVS Health Foundation. Our Children of Colleagues Scholarship Program aims to help support our full-time colleague’s children in their pursuit of higher education by relieving the financial burden. Applicants must be pursuing an undergraduate degree at an accredited school in the United States; the program does not offer support to students attending graduate school. Scholarship award amounts will be up to $7,500.

Award amounts are determined based on school costs and financial need. There are a limited number of $1,000 merit-based scholarships available for students who have no demonstrated financial need but have an exceptional academic record. Applicants must include a copy of their FAFSA Submission Summary if they would like financial need to be considered as part of their application. Due to an IRS regulation on scholarship funding by corporations for children of colleagues, the program is required to limit the number of scholarships awarded to a maximum of 25% of applications received.

An independent review committee made up of higher education and financial aid professionals will select scholarship recipients. The committee will take into consideration academic achievement, financial need, talent and leadership qualities, extracurricular activities, work experience, community service as well as a recommendation letter and written essay. Students who receive a scholarship are invited to apply for scholarships in subsequent years, with the knowledge that the application will be reviewed in the context of each year’s pool of applicants in keeping with the IRS limitations of scholarships awarded.

Eligibility Requirements:

• The student is a dependent child of a full-time CVS Health colleague. Children are defined as natural and legally adopted children, stepchildren, or foster children under legal guardianship of the CVS Health colleague parent/guardian.
• The student is either a high school senior or current college student who will be enrolled during the 2024-25 school year in a 2- or 4-year accredited U.S. based college, junior college or university leading to a recognized undergraduate degree. The student must be planning to attend school both semesters in order to be eligible for the program.
• The student’s parent is a full-time colleague (30 plus hours per week) at the application deadline.
• The student must be under age 25 at the time of the application deadline.