Impact Report – Spring 2017 (13)
A Bright Future is Waiting
What is your dream for the future? Are you a dedicated student? An exceptional athlete? A talented technician or a committed community volunteer? No matter your talents, abilities and passions, the Community Foundation of Boone County wants to help you use them to pursue your higher education dreams.
CFBC administers a vast array of scholarship funds. These scholarships are funded by donors who believe in the young people of Boone County and want to support their pursuit of higher education.
Learn more and apply for a scholarship for your school! We are proud to offer scholarships for Lebanon High School, Sheridan High School, Western Boone High School, and Zionsville High School. We also offer additional CFBC Scholarships outside of these specific schools. For a partial list of additional scholarships not administered by the Community Foundation, click here.
Follow us on Facebook; there, you’ll find upcoming deadlines, new scholarship opportunities and other scholarship-related information, posted as we receive it.
Below, you’ll find general information to help you understand the scholarship process.
For FAQ’s to help you navigate the actual scholarship application process, click here.
What is a scholarship fund?
Scholarship funds are charitable accounts established at the Community Foundation of Boone County by generous individuals or organizations for the purpose of assisting students in continuing their education. Most funds are designated for Boone County residents, some funds are specific to a particular high school and others are directed to students interested in a specific field of study. No two scholarship funds are the same.
How much does it cost to apply for a scholarship?
It’s free. There is no charge to apply. Be very leery of scholarships which require a fee to apply.
Does the Community Foundation of Boone County make the decisions about who is awarded?
Dedicated volunteers evaluate scholarships and score them based upon the criteria of the scholarship. Recommendations are then made to the CFBC’s Board of Directors for their approval.
When will I be notified?
Most scholarship recipients, who are graduating seniors, will be notified of their awards at the senior awards ceremony at their respective high schools. College students will be notified via letter of their award in the month of May.
If I want to send a thank you note, where do I send it?
We encourage you to send a word of thanks to the scholarship’s donors. We just ask that recipients send a thank you note to the CFBC with the scholarship noted, and we will forward on to the donor and/or the selection committee.
How much will I receive if I am selected as a recipient?
Awards for each scholarship vary from the smallest one time scholarship of $500 to the largest renewable scholarship of $6,000-$8,000 per year. Specific scholarship award amounts will be announced at awards nights.
Do I receive a check if I am awarded a scholarship?
No. All scholarship checks are made payable to your school and go directly to the financial aid office. Checks are sent to schools in the summer to be divided between two semesters/three trimesters for the complete school year. After the check is sent, a copy of the transaction is sent to the student for his/her records.
Are scholarships taxable?
Scholarships administered at the Community Foundation of Boone County are to be used for tuition, books and required fees. These items are generally nontaxable. The CFBC recommends that you and/or your parents consult a tax expert or your school’s financial aid office for advice.
If I receive a scholarship one year, will I automatically receive it the following year?
No. While some scholarships are renewable, others are one-time. Each scholarship varies; please check scholarship specifics.
What documentation is needed for scholarships that are renewable?
To qualify for renewal of multi-year scholarship awards (maximum of 4 years), students must:
- Provide evidence on transcript of full-time enrollment (12 credits or more)
- Be properly classified (i.e. 2nd year=sophomore)
- Maintain at least 2.5 GPA on 4.0 scale
- If the scholarship you have received is college-specific or major-specific, you must continue to meet the requirement to continue the scholarship.
- Renewal requests must be made by June 15 each year by completing the renewal form sent to the student in May. An unofficial transcript reflecting the complete school year is required annually.
What happens if I transfer colleges once I receive the scholarship?
If you transfer to another university at any time, notify the CFBC immediately. Some scholarships are school-specific and may or may not be able to be transferred to a new university.