We look forward to walking together with you as you further your education. This page is useful for helpful reminders throughout the year.
Frequently Asked Award Questions:
Have questions related to your scholarship?
Contact: ScarlettScholars@applyISTS.com
How much money does the Scarlett Family Foundation award?
The scholar classes of 2025-26 and later will be prompted to submit a financial aid award letter as part of the yearly renewal process. Scholars cannot receive an award greater than their need (associated with tuition, mandatory fees, books, and supplies). There is no minimum award amount, and the maximum award amount is $30,000.
What can I use my money for?
The scholarship can be applied to tuition, fees, books, supplies, and equipment required for course load. Please note that award checks will only be made payable to your college or university. Under no circumstances will the Foundation issue a check directly to a student.
When and how will winners receive scholarship money?
Checks will be mailed directly to the scholar and made payable to the institution. It is the recipient’s responsibility to notify ISTS of any address changes. Funds will be issued on a per-semester basis – once in July for the fall semester and once in December for the spring semester.
Can I renew my scholarship?
Scholarship recipients may receive their award for up to 4 years, or until the recipient completes an undergraduate degree, whichever comes first. You do not need to reapply every year. However, current recipients are responsible for completing a renewal form that will be emailed to them by ISTS in the Spring.
How do I renew my scholarship?
Students eligible to renew their scholarship will be notified by email from ISTS in the Spring. Students will have several weeks to complete the renewal form. Failure to do so may result in the loss of award. Please ensure the email in your ISTS account is updated to ensure renewal information is not missed.
How does the Scarlett Family Foundation determine scholarship renewal?
The renewal of the scholarship will depend on the committee’s annual review of the following:
- Positive academic performance as evidenced by student’s transcript
- Recipient’s full-time status
- Continued enrollment in a Business, Education or STEM major
Am I eligible for the scholarship if I'm in school for five years?
The Foundation will consider granting an additional semester on a case-by-case basis in extreme circumstances. Please email info@scarlettfoundation.orgwith your request, an explanation of your circumstances, and a copy of your most recent transcript at least 90 days prior to the start of the semester.
Am I still eligible for my award if I transfer schools?
A student may transfer from one institution to another and retain the award; however, the amount awarded is subject to change based on tuition cost of the new university.
Can I lose my award money?
The scholarship committee may review exceptions on a case-by-case basis. In general, a scholar could forfeit their awarded scholarship if the student:
- Changes to a non-business or non-STEM approved major
- Transfers to a 2-year or a for-profit institution
- Is no longer enrolled as a full-time student
- Is placed on academic or behavioral probation by the university which leads to losing your scholarship for one year, then it will be reviewed by the committee for re-instatement
- Fails to complete the renewal process by the deadline
Is the scholarship amount awarded taxable?
Scholarships are normally not taxable. Consult IRS publication 970 for further information.
Can I use my scholarship for study abroad?
Yes, so long as the following criteria are met:
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You remain enrolled at your university
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You are receiving course credit for your study abroad experience
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The program is relevant to your major
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Your funds can still be sent to your university. Scarlett Family Foundation cannot send funds to any entity other than your university.
The I-2 Scholarship
The Scarlett Family Foundation’s I-2 Scholarship is available for eligible students. This award is supplemental to your current award to cover costs associated with internships, interim course work, and special programs. The link to apply will be emailed to eligible students.
Communication Reminders:
If you are eligible to renew your scholarship, you will be contacted by ISTS in the Spring. The renewal of your scholarship will depend on continued positive academic performance and financial need. Information about the renewal process is on our FAQ page.
To make sure you don’t miss vital information regarding your scholarship application, add donotreply@applyISTS.com, contactus@applyISTS.com, and ScarlettScholars@applyISTS.com to your address book. Check your “junk” and “spam” folders and do not opt-out of any emails sent from these addresses.
The Communication Policy is an important document you accepted upon applying for the scholarship. You must take ownership and be proactive in communicating any changes to your contact information or any changes to enrollment status or college.
