We look forward to walking together with you as you further your education. This page is useful for helpful reminders throughout the year.
Important Dates to Remember:
March 1 – 31
Scholarship Renewal Period Begins
March 1 – April 10
Scholarship Renewal Period Closes
Scholarship Renewal Announced to Students
Fall Semester Checks Mailed to Students
Spring Semester Checks Mailed to Students
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.
Frequently Asked Award Questions:
When and how will I be notified if I receive the award?
How much money does the Scarlett Family Foundation award?
The minimum scholarship awarded is $2,500 per academic year; the maximum award is $15,000 per academic year.
What can I use my money for?
The scholarship can be applied to tuition, fees, books, supplies, and equipment required for course load.
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. Checks will be split into two — one check mailed in August for the fall term, and one check mailed in December for spring term.
Can I renew my scholarship?
Students may renew their awards for up to four years or until the recipient completes an undergraduate degree, whichever comes first. You do not need to reapply every year.
How do I renew my scholarship?
Students eligible to renew their scholarship will be notified by email from ISTS on March 1. Students will have until April 30 to complete the renewal application.
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 demonstration of financial need
- Cost of the college or university where the student is enrolled
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 Tom Parrish of Foundation with a letter as to why you need more time, and provide 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.
If you are eligible to renew your scholarship, you will be contacted by ISTS on March 1. The renewal of scholarship will depend on continued positive academic performance and financial need. Information about the renewal process is on our FAQ page.
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.