The scholarships will be open to all second-year graphic design students at the institute, which is part of University of the Arts London.
Students wishing to apply will be asked to complete a live project in the second year, and three winning students will then be chosen to receive a scholarship for their third year.
David Stocks, executive creative director at SAS, says, ‘It’s tough for students with the cost of study rising all the time.
‘We believe there is a responsibility on agencies to support and nurture young talent and not just use graduates as lowly paid interns. The great reputation for creativity we have in this country will only continue with the support of our industry.’