Parents > Faqs

Did you know...
Upon the subject of education, not presuming to dictate any plan or system respecting it, I can only say that I view it as the most important subject which we as a people may be engaged in.
-Abraham Lincoln

What are the terms of the Scholarship?
Pay It Forward Scholarship provides up to $500 per semester to help offset the cost of tuition, fees, and room/board for post-secondary undergraduate education for students entering an accredited college or university immediately following graduation from high school (unless interrupted by military service).

 

Are Pay It Forward Scholarships need based?
No. For 2018 graduating seniors, 2 criteria exist - (1) receive Arkansas Academic (Lottery) Scholarship and (2) 200 word essay on the topic “What does pay it forward mean to me?”

 

What is the Amount of the Scholarship?
The scholarship will be up to $500 per semester. The maximum payable amount is set by the highest annual tuition, fees, and room/board at an Arkansas public university less  Lottery Scholarship less any funds received in the form or federal or state financial aid.

 

What Are the Requirements for Maintaining Eligibility?

  1. Graduate from Lakeside High School
  2. Qualify for the Lottery Scholarship
  3. Maintain eligibility for the Lottery Scholarship throughout college
  4. If student attends an out of state school, the student must achieve and maintain the requirements for Lottery Scholarship as if receiving such
 

Can This Be Used to Get a Technical Degree/Certification?
No. Pay It Forward scholarship recipients must be working toward an associate or bachelor degree at a college or university accredited by one of the following 6 accrediting bodies.

  1. Middle States Association of Colleges and Schools
  2. New England Association of Colleges and Schools
  3. North Central Association of Colleges and Schools
  4. Northwest Commission on Colleges and Universities
  5. Southern Association of Colleges and Schools
  6. Western Association of Schools and Colleges

You can ensure that the educational institution you want to attend is accredited by one of these agencies by going to www.collegeboard.com, entering the school name, and viewing the school’s profile.

 

When is the application due?
Applications and Essays are due by January 31, 2018 to the school counselor.

 

Does Pay It Forward scholarship pay for summer school?
No. The scholarship will cover the Fall and Spring semesters each year. Students attending summer school will be responsible for paying tuition during summer sessions.

 

Can I Still Get the Scholarship if I Have an Additional Tuition Scholarship?
If you are awarded a tuition scholarship in addition to the Foundation Scholarship, you may opt to use your Promise funds (based on tuition, fees, and room/board) for other expenses on your college invoice. For example, the Foundation Scholarship fund may be used for room, board, additional fees, and books. These expenses must be on the invoice sent from the educational institution. Any excess funds will not be refunded or paid in cash to students.

 

How Will Funds Be Distributed?
Funds will be paid directly to the educational institution upon receipt of an invoice each semester.

 

How is Pay It Forward Foundation Funded?
Initial funding was provided by a few anonymous individuals with the sole intent of helping others. Each set of scholarships is fully funded for all 4 years of attending a secondary institution. Going forward, funds will continue to come from the original donors as well as other fundraising efforts to enhance the scope and benefit of the scholarships.