The Episcopal Actors' Guild's Scholarships Program was established in 1968 to recognize excellence in those studying the performing arts. In 2004, the program was named in honor of EAG member, benefactor and actor Mr. Thomas Barbour.
Currently, EAG awards five annual scholarships. Four of these are given to students at the American Academy of Dramatic Arts in New York. The fifth, The George C. Scott Memorial Scholarship, is presented to a student studying Theatre Arts at the University of Missouri. Additionally, The Claire Strakosch Scholarship, currently endowed by the Margaret G. Plumb Irrevocable Trust, is given periodically to students in theatre programs. And in 2008, a seventh award, named in honor of EAG Executive Director Emeritus Mart Hulswit, was established. Once fully endowed, it too will be given to a student at the American Academy of Dramatic Arts.