January 2002

Excellence in Accounting Scholarship Helps Students Succeed

The New York State Society of CPAs created the Excellence in Accounting Scholarship fund in 1990 to provide financial assistance and encourage deserving candidates to enter the accounting profession. Over the years, the fund—supported by member contributions—has helped hundreds of accounting students pursue their education.

Terrence Anderson is one example of how the scholarship has helped students. Anderson, an accounting major at Baruch College, heard about the scholarship from a teacher while pursuing his associate’s degree at New York City Technical College. Anderson has received the scholarship for more than two years now and sees it as a key that has helped him to succeed.

“It helped ease the financial burden considerably,” Anderson said. “If I did not have the scholarship, I would probably have to work full time to afford school, but now, I can work part time and concentrate more on my studies.”

Anderson, now a senior at Baruch, said he hopes to take the CPA exam next year and, after that, pursue a master’s degree.

“If you are serious about a career in accounting, it is well worth applying for the Excellence in Accounting Scholarship,” Anderson said.

Jennifer Molina from Ridgewood, N.Y., a senior at St. John’s University, received her Excellence in Accounting Scholarship this past year. Molina heard about it through a Beta Alpha Psi meeting on campus and applied.

“It gave me a chance to concentrate on my studies and allowed me to work less,” Molina said. “Also, I am president of the Accounting Society and it gave me more time to work with them.”

Big Five Firm Arthur Andersen offered Molina a position in the audit department after she completed an internship there. She starts in September 2002 and plans to take the CPA exam in the future. Molina recommends that other accounting majors apply for the scholarship.

“It helps relieve the stress of paying for school and it is rewarding; you really feel good about yourself as a student.”

The NYSSCPA awards scholarships of $1,500 per academic year for full-time students (12 credits or more per semester) and $750 per academic year for part-time students (at least six credits per semester). Payments are awarded in separate equal installments, one each semester. Students can renew the awards, provided they continue to meet all eligibility requirements.

To qualify, college students must have declared accounting as their major, have completed at least 60 semester credits, and maintain a 3.0 grade point average. The Society’s program funds up to five years of study for students enrolled in a 150-hour program

The NYSSCPA and its Foundation for Accounting Education encourage Society chapters and members to inform college students about the Excellence in Accounting Scholarship. The Society sends applications to accounting departments, accounting clubs and financial aid offices each January. Comments from past recipients prove that receiving an NYSSCPA Excellence in Accounting Scholarship can impact an aspiring CPA’s future.

The Scholarships Awards Committee, chaired by Robert Kawa, includes representatives from all 17 chapters and selects recipients from each chapter area, based on the students’ home addresses. The number of scholarships in each chapter is allocated according to the number of NYSSCPA members in the area.

“At the Society we feel the scholarship rewards outstanding accounting students who have financial need. We think it’s a great way to further students accounting careers,” Kawa said. “The scholarship helps students fund their education and receive exposure to advance their careers. We hope the program expands, and that accounting department chairs at New York state colleges will help promote it even more this year.”