Scholarships are based totally or partially on the student’s academic and/or personal merit while financial aid awards are based on the student’s financial need. Each program description outlines the qualifications and criteria necessary for application.
All applications must be submitted to the Foundation or the Foundation's designated school or organization by the stated deadline. Incomplete applications will not be considered.
Note to Candidates: Beginning Fall 2014, the Legislative Lottery Scholarship requirements include the new minimum for number of credit hours - 15 NEW credit hours with repeating classes do not count.
How Awards are Made
Each student aid program has a separate committee of people who review the applications and make recommendations to the Foundation on the selection of recipients. Recipients are notified by email and mail after the committee meets.
Each program has a different amount of available resources and the description of the program will give some indication as to the number of awards expected to be made each year.
Some programs are one-time only awards, some are renewable and some are renewable by application. Instructions for renewing an award, if appropriate, are sent with the initial award notification. ALL student aid awards are sent directly to the educational institution upon receipt by the Foundation of all required enrollment documents. Most, but not all, programs are for full-time students and all payments are made in the fall for the school year. Payments are generally made between July and October each year.
Awards may be used to fill unmet need; reduce loan amounts; or reduce work-study commitments. Student Aid Awards can be used for qualified tuition, room/board, books and related expenses within the meaning of the Internal Revenue Codes. Colleges are notified that it is the Foundation’s policy that student aid awards should not be used to reduce scholarships, grants and/or aid students may have received from other sources.
A portion of any scholarship or financial aid award may be considered taxable by the IRS. The recipient is responsible for any tax liability incurred as a result of an award and should check with a tax expert and/or the financial aid office at your school for more information.
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