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M.A. applicants who do not qualify for a Presidential or Statesman Scholarships may be considered for the Institute Scholarship. Awards are $4,400 off tuition per semester and are renewable each semester/year based on the maintenance of a 3.33 GPA and completion of all coursework. Students must be enrolled in at least ten credit hours per semester to qualify.

Institute Scholarships are normally awarded at the discretion of the Scholarship Committee based on admission application materials (for new students). Returning students who do not receive a scholarship at the time of admission may be considered for a scholarship after sixteen credit hours of successfully completed work at IWP.