Scholarship FAQs

How do I know if I am eligible for a particular scholarship?

Each scholarship fund has specific eligibility criteria defined by the donor when the fund was established. The scholarship description preceding each application will usually contain these criteria.

What can scholarship awards be used for?

IRS guidelines require that scholarships be applied for educational expenses. This includes:

  • tuition and fees required for enrollment or attendance at the eligible educational institution;
  • course-related expenses, such as fees, books, supplies, and
  • equipment required for courses of instruction at eligible educational institutions

Are scholarship awards taxable?

Consult a tax expert for advice. Generally speaking, for degree seeking students, the portion of the scholarship that is used for room and board is taxable. For non-degree seeking students, all the scholarships are taxable.

Are the scholarship awards sufficient to pay the cost of my college education?

The Lilly Endowment Community Scholarship is the only full-tuition scholarship available through the Community Foundation. The other scholarships offered by the Community Foundation provide partial support. In addition to applying for our scholarships, we highly recommend that you look into other financial aid resources such as federal grants, work-study awards, and loans.

If I am awarded a scholarship, how much will I get?

Although a few scholarships have set award amounts, awards will vary depending on a number of factors. Your award will depend on the size of the particular fund and the directions given by the donors or fund advisors.

Where can I go to school with these scholarships?

Most of the scholarships are for students attending any accredited college or university. Some scholarships are designed for students attending an Indiana institution or a particular college or university. See the specific description at the beginning of each scholarship application.

May I receive awards from more than one scholarship?

Yes, you may apply for all the scholarships to which you are eligible, and therefore could be selected as a recipient from multiple scholarship funds.

Do I need to pay scholarship money back?

No, scholarships are charitable awards that need not be paid back.

If I am selected, do I get the check?

No. Checks are made payable to and directly sent to the educational institution after the Community Foundation has received the required documentation – typically, this is your student ID number and first semester schedule. Scholars receive a letter from the Community Foundation at or after graduation/awards night stating the amount of the award and the required documentation.

If I receive a scholarship one year, will I automatically receive an award the following year?

No. Currently, there are a limited number of renewable scholarships. In almost all cases, students must turn in grade reports and/or class schedules.

What if I have other questions?

If you have questions or to request an application, see your guidance counselor or contact the Community Foundation.