In addition to the many scholarships available to students by application, there are two that are awarded to deserving individuals pursuing continuing education without application.

The Margrét Bjarnason Scholarship is awarded annually to a member of the graduating class in each of the three secondary schools within the Evergreen School Division; Arborg, Gimli and Riverton, Manitoba. The recipients of these scholarships are chosen by each of the high schools and are awarded at graduation in June.

The Foundation is proud to provide grants to each of the Canadian participants of the Snorri Program.

The Heiðmar Björnsson Scholarship is awarded by the Chair of the Department of Icelandic Language and Literature from the University of Manitoba. This award is presented annually to the student obtaining the highest academic standing in Icelandic Studies in his/her final year at the University of Manitoba.

The Baldur Stefansson Scholarship Fund is administered by the Foundation but scholarship is awarded by the University of Manitoba Faculty of Agriculture.