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Daniel G Calugar Foundation - Merit Scholarship Program

Rewarding Exceptional Academic Achievers






About the Scholarship

The Foundation is proud to offer the Academic Achievement Merit Scholarship providing an opportunity for ten outstanding freshmen entering college in the fall semester of each academic year to receive $10,000 each to be applied to their college tuition. This scholarship program aims to recognize academic excellence, motivation, and clear career objectives.

Eligibility

We have now awarded ten $10,000 scholarships for the 2026 Fall term.  Beginning September 1, 2026 we will begin accepting scholarship applications for high school seniors graduating in 2027 and entering college for the Fall term of 2027.  Accordingly, please do not submit new scholarship applications until September 1, 2026.

To apply for this scholarship, students must meet the following criteria:

  • Applicants must be US Citizens.

  • A minimum score of 1500 on the SAT or a 34 on the ACT exam is required. Please submit a copy of your exam score with your scholarship application.

  • A $10,000 scholarship check will be paid directly to the US college or university at which the applicant is accepted for full time enrollment with a designation to apply the funds toward payment of the applicant’s tuition.

  • The Foundation intends to award 10 scholarships per academic year, so qualified applicants are encouraged to apply in a timely manner.

Guidelines

Please submit an email to Scholarship@DanCalugarFoundation.org containing:

  1. A concise account of your career objectives, goals, and how your college experiences will contribute to their attainment.

  2. A response to the following topic: From 1950 to 2007, the annual average ratio of federal debt to GDP was 45%, and that ratio was 45% in 2007 as well. In September 2025, the US federal debt was 125% of GDP. Is the current level of US federal debt to GDP, and the trend for that ratio to increase from 2007 forward, a problem that needs to be addressed? If so, how would you recommend that it be addressed? If the current ratio and the trend over the past 15 years is not a problem, what level would you consider problematic and why?
Please note the year you plan to start college in your application email. Please copy your scholarship submission email to dcalugar@pacelinecapital.com and include the word "scholarship" in the Subject field.

You do not need to have been accepted for admission at a college or university to be awarded a scholarship, but scholarship funds will only be forwarded to the Registrar or Scholarship Department of a college or university that has sent you a letter of admission to the fall 2027 term and our letter to the school that has accepted you will request that the funds only be used to cover your tuition at the school.

You will need to email a copy of the admission letter to Scholarship@DanCalugarFoundation.org for your scholarship funds to be paid. We will also ask you for your permission to include your name, school of admission and your photograph on the “Previous Winners” tab of this website.





Frequently Asked Questions


What is the purpose of the Academic Achievement Merit Scholarship?

The Scholarship seeks to recognize and reward academic excellence in incoming college freshmen. It also aims to provide support to driven individuals who possess well-defined career aspirations, fostering their educational and professional journey.

What factors will be used to select the scholarship winner?

Scholarship recipients will be selected based on achieving a minimum SAT score of 1500, along with a comprehensive assessment of their academic accomplishments, stated goals, and objectives as presented in their application statement. Additionally, a well-considered response to the essay question will contribute to the evaluation process.

Where do I submit my essay?

Please submit your scholarship application and essays to Scholarship@DanCalugarFoundation.org

You should submit two separate essays:
• One addressing your career goals
• One discussing the US federal debt

When is the application deadline for the scholarship?

Currently, the Foundation is awarding ten $10,000 scholarships for the fall term of each school year.   We will accept scholarship applications beginning September 1, preceding the following fall term.   Applications for the 2027 fall term will be accepted on and after September 1, 2026.   Since there is a limited number of scholarships awarded, you are encouraged to apply early. Historically, we have awarded all ten scholarships during the month of September.

Do I need to provide a letter of acceptance from a college to apply for a scholarship?

No, you do not need to provide a letter of acceptance from a college at the time of application. If you are selected as a winner, we will coordinate to ensure the scholarship award is sent to the correct university.

If I am chosen as a winner, how much time will I have to designate a college to send the funds to?

You will have ample time to designate the college to which the scholarship funds should be sent. We will work with you to ensure everything is arranged properly.

What sort of copy of my SAT score should I submit?

We request a PDF score report for your SAT score. Screenshots will not be accepted. Alternatively, you may check with your high school to see if your test scores are included on your transcript. If they are, we will also accept a copy of your high school transcript.

A note from Dan Calugar about the Foundation: 

The Foundation is a private foundation that I set up in 2009. I have chosen to limit scholarship awards to students who have SAT scores over 1500 (top 1%) because I think in most cases that indicates a person who is strongly motivated and goal oriented. I hope the individuals who receive these scholarships will collectively make important contributions to society. I funded most of my college education at state universities with government insured student loans and after graduating from law school in 1978, my student loan obligations were about twice my after-tax annual income from the first law firm I worked for. Since graduating from law school, the tuition cost at the law school I attended has increased 33x while the average salary for starting law associates has gone up 9x.

My law practice gave me exposure to a lot of financial professionals, and I developed a fascination with algorithmic trading. The advent of personal computers and real time electronic data providers has made it possible for the little guy to compete with the big firm professionals in the field of algorithmic trading. After a few years of investment experience, I left the practice of law to invest on a full-time basis. I thank God for the success he has allowed me to achieve. The Foundation is a way for me to give something back and be a tailwind to the success of individuals who are likely to achieve greatness and make important contributions to society.







Scholarship Recipients


Theodore Perez

Fall 2021 Recipient
The University of Illinois
at Urbana Champaign


Ben Cartwright

Spring 2021 Recipient
Colorado State University


Lily Chen

Fall 2022 Recipient
Massachusetts Institute
of Technology


Allison Zebroski

Fall 2024 Recipient
The University of California at
Santa Barbara


Brendan DiEnna

Fall 2024 Recipient
Boston College


Nivrithi Varghese

Fall 2024 Recipient
Purdue University


June Zaporojan

Fall 2024 Recipient
University of Pennsylvania


Holly Stachon

Fall 2024 Recipient
University of Illinois
at Urbana-Champaign


Carter Oehme

Fall 2024 Recipient
Kansas State University


Karen Huang

Fall 2024 Recipient
University of California,
Irvine


Nora Kane

Fall 2024 Recipient
California Institute
of Technology


Stephen Hall-Nunez

Fall 2024 Recipient
Harvard University


Lyla Grove

Fall 2025 Recipient
Patrick Henry College


Carson Cattano

Fall 2025 Recipient
Duke University


Nica Alimzhanov

Fall 2025 Recipient
Dartmouth


Orion Rea

Fall 2025 Recipient
Northwestern University


Reagan Crosthwaite

Fall 2025 Recipient
Brown University


Steven Shen

Fall 2025 Recipient
University of Texas


Tyler Cliar

Fall 2025 Recipient
Stanford University