Who should apply? Aspiring appraisers currently enrolled or considering AI PAREA — the Appraisal Institute Practical Applications of Real Estate Appraisal program. PAREA provides an alternative to the traditional supervisor and trainee model for experience for licensed residential and certified residential appraisers. Appraisal Institute (AI) PAREA is an online program covering appraisal theory and methodology, in real-world simulations, with mentoring from nationally-recognized appraisers.

Scholarship is awarded on a quarterly basis
Apply by January 1, April 1, July 1, and October 1

$2,500 (not to exceed 50% of registration fee)

Eligibility and Requirements

To be considered for a PAREA scholarship interested individuals must:

    1. Complete the PAREA readiness checklist
    2. Submit an application with the accompanying materials:
      a. Written Essay; applicant must submit a written essay stating why the applicant should be awarded the scholarship highlighting professional goals, experience, volunteerism and financial need.
      b. Resume; must submit a resume or statement of qualifications, making note of any appraisal or related experience.
      c. Letters of Recommendation; two (2) letters of recommendation attesting to applicant’s work ethic, character and pursuit of career in real estate appraisal.


    • Eligible recipients may receive only one (1) PAREA Scholarship.
    • Scholarship is for program registration fee only.
    • Registration fee is paid with a credit redeemable during online registration or as per instructions below.
    • Scholarship recipients have ninety (90) days to claim award. Credit expires if unclaimed after ninety (90) days.
    • Refunds for previously paid AI PAREA registration fees will be issued following written acknowledgement of scholarship award if for AI PAREA.
    • Recipients must comply with all program policies. Failure to do so may result in forfeiture of scholarship.

See application for special considerations for those pursuing an Appraiser Qualifications Board-approved PAREA program through a provider other than the Appraisal Institute.

If you have any questions regarding AIERF scholarships please email or call 312-335-4133.