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What is a scholarship?

Non-taxable income that must be used for its intended purpose according to IRS Topic. 421.

What is a scholarship used for? 

According to IRS Topic. 421 a scholarship is "used for tuition and fees required for enrollment or attendance at the education institution, or for fees, books, supplies, and equipment required for courses at the educational institution."

Where can I use my scholarship funds?

Any degree or certificate-granting public or private college or university, junior or community college or any accredited school in accordance to (Title IV of The Higher Education Act of 1965). Technical or trade schools may be eligible to receive scholarship funds dependent on the criterion set by the sponsor, provider or educational institution. 

How have scholarship funds been awarded?

Merit-based scholarships are awarded on academic, artistic or athletic achievements. Need-based scholarships are awarded on financial need. 

Where have scholarship funds come from?

 Donors, sponsors, the collegiate athletic associations, or private entities

What is a scholarship provider?

A tax-exempt,  IRS approved organization, that is required to administer scholarship funds on an objective and non-discriminatory basis with funds provided from donors or sponsors.

What is a donor?

An individual or organization that provides tax-deductible funds to a charity.  

What is a scholarship sponsor?

An individual or organization that provides tax-deductible funds for a specific scholarship award through a scholarship provider.  

What is a private scholarship?

Funds that are disbursed from an entity that is independent from the school. The recipient is required to notify the institution's Financial Aid department as it may adjust their Financial Aid Award Package.

What is an academic scholarship?

It is based on Grade Point Average (GPA), SAT/ACT admission test scores or performance in a particular field of study.

What is an athletic scholarship?

It is based on athletic performance in sports. Athletic scholarships are limited in every sport for collegiate Divisions I And II. Division III athletics are not permitted to offer athletic scholarships- only academic.

Who is eligible for a postsecondary education scholarship?

All students that are or will be seeking a degree in a postsecondary educational institution.

Are there any other ways to earn scholarship funds?

Students may use prize money so long it is in compliance with the governing agencies of the IRSNCAA®NJCAA®NAIA®NACE®, and postsecondary educational institutions.

What is prize-money?

Taxable-income that is prohibited by the NCAA® to be accepted by potential collegiate student-athletes above actual and necessary expenses under the Amateurism. The NAIA® prohibits potential collegiate student-athletes from accepting prize money after July 1st, the 'last day of summer,' prior to enrolling in an NAIA® institution. The NJCAA® prohibits potential student-athletes from accepting prize money after a students 19th birthday or enrolling into a NJCAA® recognized institution- whichever comes first. 

What is
Legislative-Compliance?

In order for potential collegiate athletes to be eligible to participate in collegiate sports- it is a requirement to register with the NCAA®, NAIA®, NJCAA® or NACE® which verifies that recruits meet the minimum academic requirements and are considered an Amateur Athlete.

It is the potential collegiate athlete's responsibility to keep personal financial records and details on their athletic participation including paid salaries or any acceptance of prize money. Failure to disclose detailed records can be considered a violation of amateurism resulting in a permanent ineligibility status. 

What solutions are provided by
Scholarships 4 Us®?

  • A national standardized platform for Students-Participants to earn unlimited scholarship funds in our Accredited Events through The Arts, Sports and ESPORTS

  • The Program™ and Accredited Events Guide to govern Student-Participants enrollment and Accredited Hosts use of The Platforms

  • Record-keeping of the name/dates of events, accumulated prize funds and accrued savings (ESA)

  • Management of the ESA through the Students-Participants eligibility time period (age 12 – May 31st their senior year of high school) and disbursement of the funds

  • Annual reviews of the athletic associations bylaws 

Who owns
Scholarships 4 Us®?

Scholarships 4 Us® is a subsidiary company owned by FanastasiasEstates LLC. The formation has been established as a checks and balance system for oversight of the appointed governing members: President, Principal and Administrator.  

Who is the 'Custodian of Funds' for the savings contributions and
prize funds? 

Scholarships 4 Us® shall be the custodian of funds with the financial records being found at www.FanastasiasEstates.com/S4UsFinancials. 

What happens to my accumulated prize funds if I don't graduate high school?

As Scholarships 4 Us® is not a scholarship provider and manages prize funds in behalf of Student-Participants with the intended purpose to be disbursed as a scholarship award- all funds will be disbursed to the former Student-Participant as taxable-income. 

What happens to my accrued savings if I don't graduate high school?

All accrued savings will be disbursed to the former Student-Participant according to any applicable federal and/or state tax laws.

What happens to my accumulated prize funds if I receive a full tuition scholarship?

A student that intends to participate in collegiate athletics is required to request their disbursement as a scholarship award to ensure they maintain their amateurism status. The financial aid department will receive the scholarship award and issue a refund of any amount that is over the actual cost of attending the postsecondary educational institution. 

What is an Early Disbursement Request?

Can my parent, legal guardian or authorized representative submit my Disbursement Request?

YES. According to page 20 of The Scholarships 4 Us® Program a Disbursement Request may be submitted on behalf of a Student-Participant.

Can third-party individuals or organizations contribute to increase the prize fund in an event?

NO. Scholarships 4 Us® is not a non-profit charitable organization and it is prohibited in any of our Accredited Events. 

Why did Scholarships 4 Us® choose age 12 as the beginning of a student's Eligibility Time Period?

Scholarships 4 Us® analyzed child development when considering comprehension of events and consent with guardianship to ensure it is a bilateral decision to enroll instead of a unilateral choice or coercion. What has also been taken into consideration is having a balance of competition where children are more developed and can be grouped with other children with similar skill or ability level.  

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