CVS Health Foundation Scholarship Program for Children of Full‐Time CVS Health Colleagues

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. The future success of our company, the health of our community, and the overall prosperity of our economy relies heavily on our educational system and its accessibility to students. We are proud that this program has helped hundreds of students achieve their goal of furthering their education.

The application for the 2021-2022 CVS Health Foundation Scholarship is now open.

An independent review committee made up of higher education and financial aid professionals will select scholarship recipients. In addition to academic achievement, the committee will take into consideration other indicators of talent and leadership qualities, including: extracurricular activities, work experience, community service, school recommendations as well as the written essay and financial need. Scholarship award amounts will be determined based on school costs and financial need.

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. 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 Checklist

  • The student is a dependent child of a full‐time (30+ hours) CVS Health colleague.
  • The student is either a high school senior or current college student who will be enrolled during the 2021‐2022 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’s parent is a full‐time colleague at the application deadline.

Use of Scholarship Funds

  • The scholarship can be used for tuition, books, required academic fees, and room & board. Please note, any funds used for room & board are taxable and must be self‐reported to the IRS as income.
  • Any amount of the CVS Health Foundation scholarship that cannot be applied to the above costs, due to other scholarships or grants received, is to be returned to the CVS Health Foundation.

A complete CVS Health Foundation Scholarship Application must contain all of the information listed below.

  • Online Application 
  • Transcript: Transcript: High school transcript from all applicants and college transcript for students already in college students who are already in must ALSO submit a copy of their most recent college transcript.
  • Teacher/Faculty or Guidance Counselor Recommendation Letter
  • Student Aid Report (SAR) from FAFSA. If the SAR is not included, the maximum scholarship awarded will be $1,000 and based only on merit.
  • Most recently available financial aid award letter from college (if applicable)
  • SAT and/or ACT Test Scores: Test scores this year are optional and can be included in the application and a copy of scores would need to be uploaded to the application if you choose to add your scores

Questions may be directed to cvsscholarship [at] tpi.org.