Irongate's Scholarship Program started in 2012. To participate in the Scholarship Program, the family must have been a member of the Irongate Association for at least a year prior to the year in which the student is graduating and the dues for the current year paid by January 30. The student must be graduating from Hight School and going on to an accredited college. At the June Irongate meeting, a random drawing will be held and a check made payable to the College will be issued.

Irongate Board of Directors determine each year how much the Scholarship Award will be. Any money donated from residents or businesses will be added to Irongate's contribution.