Magnifi Financial Scholarship Program

Magnifi Financial Scholarship Program

Status: Active for 2026-2027 school year

Overview: Magnifi Financial is offering scholarships to eligible members to help pay for their education. The credit union has offered scholarships to students for over a decade as a way to return profits to members.

Award Details:

Geographic Scope

Eligibility Requirements

• Be a member of Magnifi Financial and in good standing
• Be planning to attend an accredited college or university, or a two to four-year community, vocational or technical college in Fall 2026
• All eligible schools must be accredited by the U.S. Department of Education
• Be a full-time or part-time student at the school (can be traditional or non-traditional)
• Cannot be a previous recipient of a Magnifi Financial or Central Minnesota Credit Union scholarship
• Employees and immediate family members of Magnifi Financial employees are not eligible

Selection Criteria

• Applications reviewed and scored by a Kaleidoscope panel of judges
• Essays and videos judged on creativity, originality, and ability to deliver an impactful message
• Financial need is NOT considered in selection

Fund Disbursement & Requirements

• Scholarship funds can be redeemed starting December 2026
• Recipients must provide Fall transcript showing official grades and proof of registration for Spring classes
• Recipients must maintain minimum 2.0 GPA (4.0 scale) or equivalent "C" average to receive funds
• Must be redeemed by May 31 of the qualifying school year
• Funds must be claimed by May 31 of the year awarded

Contact Information

• Kaleidoscope Team: (800) 278-8762
• Website: help.mykaleidoscope.com
• Magnifi Financial: 1-888-330-8482

Timeline

• November 4, 2025 - January 31, 2026: Essay and video applications accepted
• December 1, 2025: Previous year scholarship winners can submit request to collect funds
• February - March 2026: Essays evaluated and scored
• March 2026: Final verification of recipients
• March - April 2026: Winners announced and contacted
• May 31, 2026: Deadline to claim 2025 scholarship funds

What They Don't Fund

• Transcripts and letters of recommendation submitted with application will not be considered
• Video entries must not be derogatory, offensive, threatening, defamatory, disparaging, libelous, inappropriate, sexual, profane, indecent, slanderous, or discriminatory