Frequently Asked Questions

WHAT ARE THE REQUIREMENTS FOR SCHOLARSHIPS?

Some scholarships are strictly merit-based, with importance placed on academic performance, extracurricular activities and/or community service.  Other scholarships consider family income to varying degrees, and require a minimum GPA of 2.0.  The number of years a student may repeat an application may be limited.  Maximums are set on dollar amounts offered annually and cumulatively.

MANY OF YOUR SCHOLARSHIP GUIDELINES REFER TO RESIDENCY IN THE FOUNDATION'S "SERVICE AREA" - WHAT IS THIS?

The Foundation's service area includes Davie, Davidson, Forsyth, Surry, Stokes, Yadkin and Wilkes counties.

DO YOU HAVE SCHOLARSHIPS FOR GRADUATE STUDENTS?

Most scholarship funds are earmarked for students seeking undergraduate degrees.  A limited number provide assistance to graduate-level students.

HOW WILL I RECEIVE PAYMENT OF MY SCHOLARSHIP?

Scholarship checks are issued to the student's school of choice and are usually mailed to the student for presentation to the institution's Financial Aid office.

DO I HAVE TO BE A FULL-TIME STUDENT TO RECEIVE STUDENT AID?

Full-time enrollment is preferred, but you must be enrolled in a minimum of six credit hours per semester during the academic year in any program leading to a degree, certificate, or diploma from an accredited institution which participates in the federal student aid program.

DO YOU PROVIDE FINANCIAL AID FOR STUDY ABROAD?

The Dean Prim Scholarship offers summer travel in China.  Click here for more information.

DOES EVERYONE WHO APPLIES FOR FINANCIAL AID FROM THE WINSTON-SALEM FOUNDATION RECEIVE AID?

Unfortunately the Foundation is not able to assist all applicants due to ineligibility issues or limited availability of funds.

ARE THERE ANY TAX IMPLICATIONS ASSOCIATED WITH RECEIVING A FOUNDATION SCHOLARSHIP?

The Tax Reform Act of 1986 has defined certain portions of scholarship amounts as taxable income to the recipient. Under this law, "degree" recipients are protected from taxation only on amounts expended for tuition, fees, books, supplies, and equipment required by the particular school attended. Any portion of a scholarship which is used for room, board, and other "personal" expenses is now included as income subject to federal income tax. This is to alert you to the provisions of the tax law as they currently exist and to suggest that you review your award carefully when preparing your personal tax returns.

 
 


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