Program
Earning and Savings Account Disbursement Request* are submitted in the portal solution or as a .pdf document at the time of Expiration of Eligibility or in accordance to our Early Disbursement Request Policies. Former Student-Participants will have the option to request their accumulated prize funds as a 'Scholarship Award' or 'Prize Money' with acknowledgement of Scholarships 4 Us® Disclosure Statement signed at the time of enrollment.
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ESA Disbursement Request are to be received by 11:59PM eastern standard time June 30th the year of high school graduation
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Processing of disbursements is scheduled from July 1st – July 31st
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All disbursements are mailed out annually on August 1st in two separate checks
1. Savings Contributions
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DISBURSEMENT IS MAILED DIRECTLY TO THE FORMER STUDENT-PARTICIPANT​
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2. Scholarship Award
(Must be used per IRS Topic. 421)
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NON-TAXABLE INCOME
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MUST PROVIDE VERIFICATION OF ENROLLMENT
(Class Schedule, Financial Aid Award Letter or Student ID) ​
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DISBURSEMENT IS MAILED DIRECTLY TO THE POST-SECONDARY EDUCATIONAL INSTITUTION
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3. Prize Money
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TAXABLE INCOME
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POTENTIAL COLLEGIATE STUDENT-ATHLETES MUST REPORT ACCEPTED PRIZE MONEY ON THEIR ELIGIBILITY QUESTIONNAIRE. THE NCAA®, NAIA®, NJCAA® OR NACE® MAY RULE IN VIOLATION OF THEIR AMATEURISM STATUS.
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DISBURSEMENT IS MAILED DIRECTLY TO THE FORMER STUDENT-PARTICIPANT
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*RECORDS OF DISBURSEMENT ARE AVAILABLE UPON REQUEST TO THE IRS, NCAA, NJCAA, NAIA, NACE OR POST-SECONDARY EDUCATIONAL INSTITUTIONS IN ORDER TO MAINTAIN OUR COMMITMENT TO BEING THE LEGISLATIVE-COMPLIANCE ENTERPRISE.
EARLY
Disbursement Request
Earning and Savings Account
AN EARLY** REQUEST OF DISBURSEMENT (PRIOR TO EXPIRATION OF ELIGIBILITY) IS ACCEPTABLE WITH DOCUMENTED VERIFICATION BASED ON THE FOLLOWING REASONS AND CONDITIONS DESCRIBED IN THE DISCLOSURE STATEMENT:
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GRADUATION
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FORFEITURE OF AMATEURISM**​​
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TERMINAL ILLNESS**
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IMMUTABLE INJURY**
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EMIGRATION**
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INCARCERATION**
(will result in a permanent Ineligibility Status)
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PROGRAM WITHDRAWAL**
(will result in a permanent Ineligibility Status)
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DECEASE**
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EDUCATIONAL INSTITUTION DROPOUT**
(will result in a permanent Ineligibility Status)
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**Prize money may be subject to federal and/or state taxation and must be reported to the NCAA®, NAIA®, NJCAA®, or NACE®