ESA Disbursement
Earning and Savings Account
Earning and Savings Account Disbursement Request* are submitted in the S4Us.portal™ 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.
A former Student-Participant will forfeit their accumulated Prize Funds funded with Prize Money and be considered for investigation and prosecution for fraud if it is plausible that the Student-Participant intentionally did not disclose their compliance to The 5 Principles of Amateurism.
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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
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 WHEN SUBMITTING DISBURSEMENT REQUEST
(Class Schedule, Financial Aid Award Letter or Student ID)
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THE FORMER STUDENT-PARTICIPANT MUST NOTIFY THE FINANCIAL AID DEPARTMENT ONCE THEY RECEIVE CONFIRMATION RECEIPT OF AN ACCEPTED DISBURSEMENT REQUEST THAT THEY WILL BE RECEIVING THEIR ENTITLED SCHOLARSHIP AWARD FROM SCHOLARSHIPS 4 US®. ASK TO SET UP A MEETING TO DISCUSS WITH FINANCIAL AID HOW TO ALLOCATE THESE FUNDS TOWARD ENROLLMENT AND/OR SUPPLIES.
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DISBURSEMENT IS MAILED DIRECTLY TO THE POST-SECONDARY EDUCATIONAL INSTITUTION
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
*RECORDS OF DISBURSEMENT ARE AVAILABLE UPON REQUEST TO THE IRS, NCAA®, NJCAA®, NAIA®, NACE® OR POSTSECONDARY EDUCATIONAL INSTITUTIONS IN ORDER TO MAINTAIN OUR COMMITMENT TO BEING THE LEGISLATIVE-COMPLIANCE ENTERPRISE FOR POTENTIAL COLLEGIATE ATHLETES AND STUDENTS.
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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DECEASE**
(parent, legal guardian, or authorized representative may submit request)
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EDUCATIONAL INSTITUTION DROPOUT**
(will result in a permanent Ineligibility Status)
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EMIGRATION**
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EARLY GRADUATION
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IMMUTABLE INJURY**
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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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TERMINAL ILLNESS**
**Prize money may be subject to federal and/or state taxation and must be reported to the NCAA®, NAIA®, NJCAA®, or NACE®