College Scholarship FAQs

What scholarships are available?

Currently, the WICPA Educational Foundation offers two scholarships: the LeRoy C. Schmidt 150-Hour Scholarship and the Elizabeth Peters Memorial Scholarship.

The LeRoy C. Schmidt 150-Hour Scholarship is named after former WICPA Executive Director LeRoy C. Schmidt, CPA, who was Executive Director from 1990-2006, passionately promoted the accounting profession, and was actively involved in the 150-hour legislative process.

The Elizabeth Peters Memorial Scholarship is named after Elizabeth Peters, CPA, who began her career as a staff accountant with Wipfli, Ulrich & Co. in 1949, at a time when major CPA firms were not hiring women. In 1961, she became the first woman in Wisconsin to be elected as Partner in a CPA firm.

What is the difference between the scholarships?

The LeRoy C. Schmidt 150-Hour Scholarships of $2,500 will be awarded to multiple qualified applicants who meet the eligibility criteria and demonstrate academic achievement, volunteering activities, and provide supporting documentation via a personal statement and letters of recommendation.

The $2,500 Elizabeth Peters Memorial Scholarship has the same criteria as the LeRoy C. Schmidt 150-Hour Scholarship, but is an exclusive to only one recipient, who, if contacted, will have the opportunity to meet with representatives from Wipfli LLP.

Can I apply for both scholarships?

Yes, if an applicant meets the application criteria and agrees to the terms and conditions of both, it is encouraged to apply for both scholarships.

When is the application period?

Applications for the 2019 scholarships will be accepted until Feb. 28.

What are the education requirements to apply?

Scholarships are awarded to qualified accounting students in their last year of academic study who: 1) have full-time student status with a GPA of 3.0 or higher at a college or university with an accounting program that qualifies to sit for the CPA Exam; 2) have completed 120 credit hours of a degree program that qualifies the applicant to sit for the CPA Exam but have not yet completed the 150-hour requirement; 3) are working towards the 150-hour requirement; and 4) plan to apply for a Wisconsin CPA license.

Do my college transcripts need to be official?

No, however submitted transcripts should be printed from the college or university website and state the student's name.

How many letters of recommendation do I need?

Two recommendation letters are needed: one from an accounting professor and one from a non-relative.

When are the scholarships awarded?

Scholarship recipients will be announced and notified in April, with scholarships distributed to recipients by September.

How are scholarships funded?

Scholarships are funded through the WICPA Educational Foundation's activities. Scholarships would not be possible without the donations and volunteer time of WICPA members and others who share in supporting the future of the profession.

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