Students > Faqs

Did you know...
Choosing a College is critical...
The cost of changing colleges can be monumental. Some schools will not honor credit hours taken elsewhere and you could be forced to retake certain classes. Choose your college with the end in mind.

Can I still get the Foundation Scholarship if I receive state or federal student aid?
If you receive state or federally funded financial aid, e.g. Pell Grant, GO! Scholarship, etc., those awards will be applied to tuition, fees, and room/board first, followed by the Arkansas Academic Challenge (Lottery) Scholarship. If there is a balance after those awards have been applied, then the Foundation Scholarship will fund up to $500 per semester to help offset the cost of tuition, fees, and room/board at the university you choose to attend.  The Foundation Scholarship is structured in such a way that the combination of these 3 awards shall not exceed the highest cost of tuition, fees, and room/board at the highest priced 4-year public university in Arkansas. 

 

Can I still get the Foundation Scholarship if I receive other scholarships?
Yes, all financial aid that you receive beyond the Lottery Scholarship and Pell Grant is not taken into consideration for the Foundation Scholarship. Our idea is simple - you worked hard to receive those other scholarships, you should receive the benefit of receiving those awards.

 

Who is Eligible for the Foundation Scholarship and what does it pay for?

In general, all graduates of Lakeside High School in Lake Village, beginning with the 2015 graduating class who receive the Lottery Scholarship are eligible. See the Specific Qualifications section below for more detail. The Foundation Scholarship will help fill the gap up to $500 per semester between the Arkansas Academic Challenge (Lottery) Scholarship, Pell Grant (if applicable), and tuition + mandatory fees at your university.  The Foundation Scholarship is structured in such a way that the combination of these 3 awards shall not exceed the highest cost of tuition, fees, and room/board at the highest priced 4-year public university in Arkansas.  The Foundation Scholarship is to be used to help pay tuition, fees, and room/board at any accredited two-year or four-year public or private college or university.  The Foundation Scholarship does not pay for room, board, books, or other incidental expenses.  Below are examples of 2 different students -

For example, take Meghan who receives the Lottery Scholarship, receives the Pell Grant, and decides to attend Arkansas Tech University. Here is what  Meghan can expect per semester of her Freshman year:

Cost of Tuition, Fees, Room/Board $6,763
Less Lottery Scholarship ($1,000)
Less Pell Grant ($2,822)
Less Foundation Scholarship ($500)
Projected Out of Pocket Expense $2,441

In another example, take Jake who receives the Lottery Scholarship and decides to attend Ouachita Baptist University.  Here is what Jake can expect each semester of his Freshman year:

Cost of Tuition, Fees, Room/Board $9,029*
Less Lottery Scholarship ($1,000)
Less Foundation Scholarship ($500)
Projected Out of Pocket Expense $13,610

*In this example, the Cost of Tuition, Fees, and Room/Board is capped at $9,029 as that is the highest cost of a public university in Arkansas. Taking into account the cost of attending Ouachita is actually $15,100 per semester, Jake will end up with an out of pocket expense of $13,160 per semester.

 

Will the Foundation Scholarship help pay for tuition and fees to an out of state school?

Yes. For students attending accredited public or private schools outside of Arkansas, the cost of tuition and fees for purposes of calculating the Foundation Scholarship shall not exceed the highest cost of tuition, fees, and room/board at the highest priced 4-year public university in Arkansas. For calculation of the Foundation Scholarship, it will be assumed that the student received the Lottery Scholarship despite not being able to accept it. To receive and maintain the Foundation Scholarship, students attending out of state schools must meet the same minimum academic requirements as if attending school in Arkansas to retain the Lottery Scholarship.

Fox example, take Steve who decides to attend Delta State University. Here is what Steve can expect each semester:

Cost of Tuition, Fees, Room/Board $6,852
Less Lottery Scholarship ($1,000)
Less Foundation Scholarship ($500)
Out of Pocket Expense $6,352

*Even though Steve did not receive the Lottery Scholarship since he attended college outside of Arkansas, that scholarship money is taken into consideration for payment of the Foundation Scholarship.  Steve is also obligated to maintain the annual minimum academic performance requirements as if the Lottery Scholarship were in place.

 

What are the Terms of the Scholarship?

The Foundation Scholarship provides up to four continuous years of tuition, fees, and room/board for post-secondary education. To maintain continued eligibility for the Foundation Scholarship, graduates must adhere to the following:

  • Enter any accredited two-year or four-year college or university in the United States immediately following graduation from high school (unless deferred or interrupted by military service).
  • Receive and maintain the Arkansas Academic Challenge (Lottery) Scholarship. If after entering a post-secondary school, the student loses the Arkansas Academic Challenge (Lottery) Scholarship or fails to meet renewal criteria if attending an out of state school, the student will also lose the Foundation Scholarship. Once a student loses the Foundation Scholarship, the student will not be eligible for reinstatement.
 

How is the Amount of Scholarship Determined?

The scholarship amount is pre-determined amount per semester for each graduating class. Any increase or decrease in the scholarship amount for future graduates has no impact on scholarships previously awarded.

How can I be eligible for the Foundation Scholarship and how do I stay eligible?

  • Graduate from Lakeside High School
  • Qualify for the Lottery Scholarship
 

What are the specific qualifications to receive and maintain the Foundation Scholarship?

  • Must be a graduate of Lakeside High School
  • Must apply for and receive the Lottery Scholarship
  • Must provide a letter of admission at an approved institution of higher education in a program of study that leads to a baccalaureate degree, associate’s degree, qualified certificate or a nursing school diploma
  • Must be an Arkansas resident and US citizen or lawful permanent resident
  • Must complete the Free Application for Federal Student Aid (FAFSA)
  • Must provide documentation of application and awards of all federa/state financial aid
  • Must apply for 2 scholarship opportunities outside of state, federal or Foundation Scholarship. Awards are not required but proof of application will be documented.