What are the eligibility requirements to apply?
Qualifying applicants are those that: 1) Have graduated from, or are currently attending Boothbay Region High School (BRHS) or are deemed to have special circumstances approved by the Awards Committee and the BRSAF Board of Directors, with unmet financial need. 2) Have been admitted to or are enrolled at an accredited post-secondary institution or in a program that has been approved by the Awards Committee.
Is there a residency requirement to apply for a grant (award)?
No, there is no residency requirement to apply for a grant (award).
Who can apply for a grant (award)?
Anyone can apply for a grant (award) from BRSAF, but not everyone will qualify. Please refer to the eligibility requirements above (Question 1).
Can I apply for a BRSAF grant (award) if I attended BRHS, but received a GED or HiSET instead of graduating with a diploma?
Yes, if you have attended BRHS for a period of time and have a GED or HiSET, you may apply for a grant from the Fund
Is there any age limit to applying for a grant (award) from the BRSAF?
You may apply to the BRSAF at any age as long as you meet the eligibility requirements.
Can I apply to the fund if I plan on attending an accredited vocational training program for my post-Secondary education?
Yes, you may apply to the BRSAF for a grant (award) if you plan on attending an accredited vocational training program.
If I want to participate in a certificate program, i.e., Lab Technician or Home Health Aide, can I apply to the Fund?
Yes, you may apply to the BRASF for a grant (award),if you participate in an accredited program or a program that is approved by the Awards Committee
What kind of documentation is required for my application to be considered?
The following documents must be submitted with the application: 1) BRSAF online application form. This form can be accessed by clicking the link above or visiting brsaf.org. 2) The Financial Release Form. This form can be accessed by clicking the link above or visiting brsaf.org 3) The Student Aid Fund Report (SAR) from the FAFSA. (This document can be up to 5-6 pages). 4) Your current year financial award package from your institution or the complete bill for the semester from the institution.
How do I qualify for a grant (award)?
The required documents must be submitted by the deadline to be considered. If your application is incomplete, you will be notified and advised on the missing documents. Once the application is complete, the Awards Committee will make their determination of eligibility.
How do I apply?
You need to submit the required document by May 1st if you are a graduating BRHS Senior and August 1st for all other applicants. Late applicants may be considered, but grants (awards) will be dependent on available funds at that time.
Will I have to pay back the grant (award)?
No repayment of the grant (award) to BRSAF is required. The money is a grant (award), not a loan.
If I change my decision on which college to attend, how will this impact my grant (award)? How do I notify the Boothbay Region Student Aid Fund? Will I be able to able to receive a grant (award) to the new college and how will the amount be determined?
The Transfer Information Form, which is located on the BRSAF website (brsaf.org), needs to be completed, and the current year financial award package from your new institution needs to be submitted. The same process used for the initial award will apply for the new institution.
If I transfer to a new college next year, can I still receive a grant (award)?
Yes. A transfer to another school will not prevent you from receiving a grant (award) if you still qualify.
If I receive a grant (award) this year, do I automatically receive it next year or do I have to re-apply?
You must reapply each year to see if you qualify. Please refer to the list of the required application documents in Section B. Question 1.
If I have already received my BA/BS degree in five years, can I reapply now for funds to go to grad school?
Yes. Financial assistance may be provided to qualifying students for no more than the equivalent of six academic years.
What if a student who is a junior this year, wants to go to vocational training instead of college. Can they apply for student aid funds to complete a 9-month course?
Yes. You must meet the eligibility requirements as outlined in under our Applicant Resources tab to be considered for a grant (award). Vocational training, as well as professional training and certificate programs are acceptable if it is an accredited program or one that has been approved by the Awards Committee.
I am taking a gap year. Can I still apply for BRSAF award?
Yes. A person is eligible for financial assistance for no more than the equivalent of six academic years, with no more than three years at the graduate school level.
I am intending to go to graduate school. How do I apply for an award?
The application requirements for an award are the same for both the undergraduate and graduate level. Financial assistance may be provided to qualifying students for no more than three years at the graduate school level.
What if a student who is a junior this year wants to go to vocational training instead of college? Can they apply for student aid funds to complete a 9-month course?
Yes. You must meet the eligibility requirements as outlined in Section A, Question 1 to be considered for a grant (award). Vocational training, as well as professional training and certificate programs are acceptable if it is an accredited program or one that has been approved by the Awards Committee.
My parents’ income changed; they lost their job. Can I apply for additional funding for this year?
No, the BRSAF grant (award) is based only on the EFC from the FAFSA, submitted with the application. The best approach to address the employment status change is directly with your institution.
What happens to the Grant (award) if a student changes their mind and does not go, or if they withdraw from their program?
When a student changes their mind about attending an institution and does not enroll, the grant (award) money is returned to BRSAF. When a student withdraws from their institution, the unused funds are returned to BRSAF.
I missed the deadline for applying. Is there any hope for getting an award?
Yes. Late applications may be considered, and depending on the circumstances and available funds, a grant (award) may be given. If you apply after the deadline, there is no guarantee that you will receive a grant (award).
What will my grant (award) be if I commute from home to school?
Your grant (award) will be based on the cost of attendance minus room and board. Mileage at the government rate will be factored into your final grant (award).
What happens if I move off campus? Is the application process different?
The application process does not change. You will still submit your total cost of attendance for the school year in the online application.
Do I have to be a recent graduate of BRHS, or can I apply at any time in my life?
If you meet the eligibility requirements outlined in Section A, you may apply at any time for a grant (award) within the grant (award) process.
Will I get the same award every time I apply, or will it be different every time?
It will most likely be different each time you qualify due to changes in your, and your family’s circumstances, and the amount of funds available for awards varies each year.
How many times can I reapply?
Financial assistance may be provided to qualifying students for no more than the equivalent of six academic years.
Will the grant (award) money be sent to me or to my school?
The Grant (award) amount is sent directly to the Institution’s Financial Aid office.
How much money will I receive and when will I find out the amount?
The amount of money that you will receive cannot be determined by itself as all grant (award)s are based on the total available funds for all applicants. Graduating seniors should receive a letter from BRSAF shortly after graduation informing them of the amount of their grant (award). All other applicants will receive notification in August.
How does BRSAF funding affect college scholarships?
A grant (award) from BRSAF should not have an impact on what an institution is offering for aid. When BRSAF checks are mailed to an institution, a letter is sent to the institution, including the following : “Should this grant (award) cause the Institution to reduce your aid to the student, please return our check or contact us to resolve the conflict.” There have been very few issues with this, and they have been resolved by phone.
How are the funds distributed to the recipients/colleges?
Checks for first year students are sent directly to the Institution in July and for all other students in August for the Fall semester. Spring Semester checks are released at the end of December. For those programs with one session, the entire grant (award) is sent at the beginning of the program. Those programs held over the summer or on a trimester basis will be accommodated.
How does BRSAF calculate the awards?
The BRSAF Board of Directors approves the total Funds available for Grants for each calendar year. Grants (awards) from BRSAF are based on a percentage of unmet need as determined by subtracting the student’s financial aid package and expected family contribution (EFC) from the school ‘s total cost of attendance (COA). COA minus School Award (grants/scholarships) less one-half of the EFC = Unmet Need. The Unmet Need is then multiplied by the percentage based on available funds for the entire group. Not all unmet need is guaranteed to be covered.
Who manages the fund’s investments and how are funds invested?
Our Finance Committee oversees our investments in accordance with our written Investment Policy. The Invested Funds are held in accounts at Raymond James and Vanguard, with the majority being held in Vanguard Index Funds (both equity and bond).
How much money goes into overhead?
Approximately 5% of monies go to operating and administrative expenses.
How much is withdrawn from invested funds each year. How is that amount determined?
The Board of Directors follows the “standard fiduciary policies” for a nonprofit organization. A percentage of the average of the market value of invested funds for the last 20 quarters is utilized to establish the withdrawal from invested funds each year to help fund the grants (awards). The percentage varies each year, taking into consideration the economic climate but it is typically in the 4-5% range.
How are my annual fund donations to BRSAF used?
The majority of all dollars donated to the annual fundraising campaign go directly to the student grants (awards). A donation to a Named Fund, or a designated capital gift, is added to the Fund’s investments.
What is the best way for me to support the BRSAF?
BRASF has several options for support: 1) A donation to our Annual Fund. Almost all these monies go directly to the student grants (awards) due to an all-volunteer board and control of expenses. 2) A donation to establish a Named or Memorial Fund. In honor of the donor, the donor’s family, an organization or in memory of a loved one. A Named Fund requires a gift of $25,000. This money is added to our Invested Funds, the earnings from which help support our grants (awards). 3) Name the BRSAF as a beneficiary in your Planned Giving; Will, Charitable Trust, Annuity, etc. 4) Gifts of any amount may also be made to our Invested Funds for any reason with confidence that the gift will keep on giving. 5) Refer to Options of Support section of website for more details