Scholarships and Awards at Illinois State University’s FIL Department

Aspiring finance wizards, insurance mavens, and legal eagles, rejoice! Illinois State University’s Department of Finance, Insurance, and Law (FIL) recognizes the financial hurdles aspiring professionals can face. To help you navigate your academic journey, they offer a prestigious array of scholarships and awards specifically for FIL students.

This comprehensive guide unveils the opportunities available to fuel your academic ambitions within the FIL department:


  • Finance, Insurance and Law (FIL) Scholarship Fund: This umbrella fund supports various scholarships and awards within the department. Keep an eye out for announcements of specific named scholarships funded by this source.
  • COUNTRY Financial Finance Insurance and Law Scholarship: Established by COUNTRY Financial, this scholarship empowers students majoring in Finance, Insurance, and Law within the College of Business.
  • Charles and Janet Sherburn Endowed Scholarship: This scholarship honors leadership and dedication in FIL studies. It’s awarded to deserving junior or senior students.
  • Charlie Norman Finance Scholarship Fund: Created in memory of Charlie Norman, a 1988 Finance graduate, this scholarship provides ongoing support to deserving FIL students.
  • Gary and Joan Ollmann Endowed Scholarship: Established by Gary Ollmann, this award supports students pursuing certifications like the CFA, CTP, or CFP. It’s administered through the department chair.
  • Jordan Styx Memorial Scholarship: Awarded annually, this scholarship honors the memory of Jordan Styx and provides financial assistance to a deserving Finance major.
  • Laverne Cox College of Business Alumni Scholarship: Established in 1980, this scholarship recognizes outstanding students within the College of Business, potentially including FIL majors.


  • Outstanding Senior Finance or Insurance Student: This award recognizes graduating seniors with a major in Finance or Insurance. It considers academic success, extracurricular activities, and commitment to professional excellence.
  • Outstanding Junior Finance or Insurance Student: Similar to the senior award, this recognition celebrates high-achieving junior Finance or Insurance majors.
  • Center for Investment Research Award: This award acknowledges exceptional performance in the Center for Investment Research program.
  • Chartered Financial Analyst (CFA) Scholarship: This scholarship provides financial support to students pursuing the prestigious CFA designation.
  • Educational Investment Fund (EIF) Scholarship and Participation Scholarship: Details regarding these scholarships are not readily available on the FIL website. It’s recommended to contact the department directly for more information.
  • Educational Fixed-income Fund Scholarship: Similar to the EIF scholarships, information about this award might require contacting the FIL department.
  • Finance Achievement Award: This award celebrates outstanding academic achievement within the Finance program.
  • Finance Futurity Award: This award recognizes promising future prospects in the field of Finance.
  • Insurance Futurity Award: Similar to the Finance Futurity Award, this recognition highlights a student with a bright future in the Insurance industry.
  • Finance Professional Excellence Award: This award acknowledges students who demonstrate exceptional professional potential within the Finance field.
  • Illinois State Alumni in Finance Student Excellence Award: Recognizing FIL students who embody excellence, this award is presented by the Illinois State Alumni in Finance organization.
  • LaVerne A. Cox Award in Risk Management and Insurance: This award honors a deserving student excelling in Risk Management and Insurance studies.
  • Outstanding Legal Environment Student Award: This award acknowledges a student who demonstrates exceptional understanding and potential within the legal environment field.
  • Finance Initiative Award: Details regarding this award are not readily available on the FIL website. It’s recommended to contact the department directly for more information.
  • Jeff Secord Financial Planning Award: This award recognizes a student who demonstrates exceptional potential in the field of Financial Planning.

How to Apply

The application process for these scholarships and awards may vary. It’s crucial to check the FIL department website ( for the latest information on specific deadlines and application procedures. Generally, you can expect to submit materials such as:

  • Completed application form (if applicable)
  • Academic transcripts and diplomas
  • Letters of recommendation
  • Statement of purpose outlining your academic goals and how the scholarship/award aligns with your aspirations

Investing in Your Future

The scholarships and awards offered by Illinois State University’s FIL department are a testament to their commitment to fostering the next generation of financial, insurance, and legal leaders. By taking advantage of these opportunities, you can alleviate financial burdens and focus on achieving academic excellence.

Remember: Don’t hesitate to reach out to the FIL department’s academic advisors for guidance on scholarships and awards best suited to your profile. With dedication, perseverance, and the support of these prestigious awards, you can pave the way for a bright future in your chosen FIL field.

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