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For more than 20 years, the Indianapolis Alumnae Chapter (IAC) has been awarding scholarships to deserving young African American women in their senior year of high school, residing in Indianapolis, Kokomo, and Lafayette. Scholarships are awarded based upon academic achievement, character, community services activities, extra-curricular activities, and financial need.

As an incentive for active members of the chapter to further their education, IAC also offers book award scholarships to current year financial members of the chapter.