Scholarship/Grant Seeker FAQ

wttw_support-faq

Q1.  What is the Mission of the Funding Life Scholarships and Research Grants?
A1.  Recognizing the power of education, the responsibility to explore new possibilities, and the commitment to further both knowledge and understanding, the the Funding Life Corporation is committed to managing the financial resources provided by our programs to promote the academic and scientific research of our applicants and the community.

Q2.  What does the Scholarship/Grant Committee do?
A2. The Scholarship/Grant Committee supports the advancement of higher education and research of our applicants and the community by:

  • Managing and making decisions about the financial resources provided by the Funding Life Corporation for the scholarship/grant funds in consultation with the Board of Trustees which maintains the scholarship funds
  • Providing scholarships for partial payment of college tuition and fees
  • Provide research grant funds in support of new research efforts relating to our identified research topics.
  • Partnering with other charitable groups and external organizations to  advance the understanding, preparation, and opportunities for  higher education and scientific research in our identified research areas.
  • Posting and sharing scientific research information, results, and findings so that they may be reused and accessed by the public.

Q3.  How are scholarship & grant funds acquired?
A3.  Scholarship and grant funds come from three sources:

  • Crowd sourced contributions
  • Gifts to the Scholarship/Grant Fund
  • Endowed scholarships or one-time scholarships created by individuals or charitable foundations
  • Endowed grants from individuals or charitable foundations

Q4.  What are the membership requirements to serve on the Scholarship/Grant Committee?
A4.  Members of the Scholarship/Grant Committee are elected by the general body of the Funding Life Corporation. All candidates must follow the nomination process pursuant to the Constitution and Bylaws.  Nomination to this committee can be made by any foundation member.  Individuals may also nominate themselves and they will be considered by the Funding Life Corporation Selection Committee.

Q5.  Who is eligible for a scholarship?
A5.  Requirements for specific scholarships vary from fund to fund. In some cases requirements can be quite narrow and in others quite broad. It is important to read the description of each requirement set quite carefully. If you have any questions, please contact The Funding Life Corporation for clarification.

Q6.  Who is eligible for a research grant?
A6.  Individual Principal Investigators who are recognized professional and doctoral researchers that are identified by the Funding Life Corporation team may be approached to apply for grant funding, however the majority of grants are awarded to recognized charitable, and for profit research organizations that are conducting work in one of the identified research topic areas. Occasionally the Funding Life Corporation will post a Request for Proposal (RFP) for research grants which are open to public response.

Q7.  What is the financial value of the scholarship?
A7.  Scholarships for awardees are typically between $1,000 to $5,000. This amount may vary from year to year based on investment returns, donations, gifts, newly endowed scholarships, and one-time offerings/gifts.

Q8.  Can you receive a scholarship each year you are in college?
A8.  No. Scholarships are one-time awards that must be used to defray the costs of tuition and fees.

Q9.  When are scholarships awarded?
A9.  Eligible applicants may apply for scholarships by the announced deadline, which has recently been March 15th. Applications will be reviewed for eligibility, content and completeness. Awards will be made in June of the same calendar year.