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 reasons. 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 for fraud including their Parent, Legal Guardian, or Authorized Representative, if it is determined 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 an ESA Disbursement Request is scheduled from July 1st – July 31st.
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Disbursements are scheduled to be transferred annually on August 1st in two checks.
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A one year grace period is permissible.
1. Savings Contributions
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DISBURSEMENT IS MAILED DIRECTLY TO THE FORMER STUDENT-PARTICIPANT
2. Scholarship Award
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NON-TAXABLE INCOME
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MUST PROVIDE STUDENT ID AT THE OF DISBURSEMENT REQUEST
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THE FORMER STUDENT-PARTICIPANT MUST NOTIFY THE FINANCIAL AID DEPARTMENT ONCE THEY RECEIVE CONFIRMATION OF AN ACCEPTED DISBURSEMENT REQUEST THAT THEY WILL BE RECEIVING A SCHOLARSHIP AWARD, IN YOUR NAME, FROM THE TRUST OF SCHOLARSHIPS 4 US.
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THE FORMER STUDENT-PARTICIPANT SHOULD DISCUSS WITH THE FINANCIAL AID DEPARTMENT HOW TO ALLOCATE THESE FUNDS TOWARDS ENROLLMENT AND/OR NECESSARY SUPPLIES ACCORDING TO IRS TOPIC NO. 421.
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DISBURSEMENT IS MAILED DIRECTLY TO THE EDUCATIONAL INSTITUTION
3. Prize Money*
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TAXABLE INCOME
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STUDENTS AND POTENTIAL COLLEGIATE ATHLETES MUST REPORT ACCEPTED PRIZE MONEY TO THEIR PROSPECTIVE LEAGUE OR ASSOCIATION AS THEY HAVE JURISDICTION TO DETERMINE ELIGIBILITY TO COMPETE IN THEIR COMPETITIONS OR TOURNAMENTS.
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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®, HIGH SCHOOL LEAGUES OR ASSOCIATION, AND EDUCATIONAL INSTITUTIONS.
EARLY
Disbursement Request
AN EARLY REQUEST OF DISBURSEMENT (PRIOR TO EXPIRATION OF ELIGIBILITY) IS ACCEPTABLE WITH DOCUMENTED VERIFICATION BASED ON THE FOLLOWING REASONS:
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DECEASE*
(Parent, Legal Guardian, or Authorized Representative may submit request with copy of Death Certificate)
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EDUCATIONAL INSTITUTION DROPOUT*
(Will result in a Permanently Ineligible 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 Permanently Ineligible Status)
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PROGRAM WITHDRAWAL*
(Will result in a Permanently Ineligible Status)
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TERMINAL ILLNESS*
**Prize money may be subject to federal and/or state taxation