Scholarships for our extended family

We’re exceptionally grateful for our amazing employees. That’s why we also support the success of future generations, through a range of scholarships for children and families of our team.

National Merit Scholarships 

National Merit Scholarships sponsored by Principal are available for dependents of employees who are program finalists. The program is a renewable scholarship offering up to $1,000 per year for four years. Apply now

The Phyllis R. Johnson Scholarship 

Dependents or relatives of an employee of Principal who are incoming freshmen at the University of Iowa are eligible to receive a scholarship in memory of Phyllis R. Johnson.


  • Be a relative of a Principal employee (dependent child, grandchild, niece or nephew). Please note: dependents of advisors and dependents of executives (vice president and above) of Principal are not eligible.
  • Demonstrate a financial need
  • Be an incoming freshman at the University of Iowa. Transfer students are not eligible.

Scholarship details

The scholarship can be renewable by applying each year, for a total of 4 years, if:

  • The student maintains at least a 3.0 cumulative grade point average
  • The student continues to meet financial need requirements
  • The student remains enrolled full-time
  • The parent or relative remains employed at Principal

How to apply

By April 1, interested students must:


For more information, call the University of Iowa Financial Aid Office at 319-335-1450.

Principal Scholarship for Excellence 

The Principal Scholarship for Excellence rewards dependents under age 25 of part-time and full-time employees (with at least one year of employment as of the application deadline) in majority-owned U.S. and international offices and locations.


To qualify for this scholarship, applicants must:

  • Be a dependent, under the age of 25, of a Principal employee who:
    • Works a minimum of 20 hours per week
    • Has a minimum of one year of employment with Principal as of the application deadline
    • Dependents of advisors or executives (vice president and above) of Principal are not eligible.
  • Be a U.S. high school senior or graduate who plans to enroll or already is enrolled in a full time undergraduate course of study at an accredited two or four year college or university, or vocational-technical school for the entire upcoming academic year.
  • Be an international student in the final year of secondary school or secondary school graduate who plans to enroll or who is already enrolled in full time undergraduate university level studies for the entire upcoming academic year.
  • Have at least a 3.0 GPA or the equivalent.

Scholarship details

  • This is a one-time scholarship; however applicants will be allowed to reapply each year.
  • Each award is $2,500.
  • Up to 20 scholarships are awarded.
  • The award checks will be issued in U.S. currency.
  • In order for the dependent to receive the award, Principal employees need to be a current employee on the date the award is issued to their dependent.

How to apply

  • Visit the Scholarship America Hub to apply (when available).
  • The Scholarship America Hub will open in March, for the following academic year.
  • Transcripts are required for eligibility and must be postmarked by the established deadline date, set forth by Scholarship America.


Questions regarding the scholarship program should be addressed to:

Principal Scholarship for Excellence
Scholarship Management Services 
One Scholarship Way
Saint Peter, MN. 56082 
(507) 931-1682