Scholarships

Purpose
The purpose of the Scholarship Policy of the Association is to provide guidance in allocation of available resources for assisting Association members and their
families in achieving educational goals. Educational goals may include pursuit of a degree, certification, or qualification for a job or position. Educational goals
may involves others.

 

Scholarship Resources
1. General Scholarship Fund
The CFBRAA will receive and distribute funds designated for scholarships.

a) Funds may be invested, with principle being used to provide a perpetual
source of funds. All such investments are subject to the Investment Policies of
the Association.

b) Funds may be deposited with the principle and earnings available for use
in scholarships.

c) All funds designated for scholarships will be used exclusively for
providing educational support to approved applicants. Funds designated for
scholarships may not be used for other purposes without the express permission,
in writing, of the contributor of the funds.

d) Educational support includes approved and accredited education
institutions and courses of study. In addition to accredited colleges and
universities, scholarships may be approved for specialized courses of study,
certifications or technical schools

e) Scholarships will normally be awarded for two (2) year increments (4
semesters or 6 quarters) for students attending conventional college curriculums.
The terms may be modified based on available funds and/or student objectives
and performance. Student performance is expected to achieve a minimum
cumulative GPA of 2.0 (4.0 scale). Students on scholarship are expected to
maintain full time status as defined by the school policy. Students enrolled for
less than full time status may have their stipend reduced correspondingly.
Scholarship students enrolled in technical courses will be adjusted on a case by
case basis.

Designated Scholarships
The CFBRAA may serve as the guardian and distributor of specific scholarships.
Individuals or groups may set up unique or designated scholarships to be
governed by and distributed by the Association. The guidelines for distribution of
these specific scholarships will be developed and agreed upon by both the
contributor and the BOD.

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