In addition, the type of funds that certain students receive may also require that the institution withhold taxes from the proceeds of the prize. Financial support based on academic achievement or other criteria that may include financial need. The donor of the scholarship sets the criteria for recipient selection. Proceeds of the scholarship offset the cost of the student's education for an upcoming or current academic year, depending on when the student receives the funds. In some cases a check is prepared and given to the student separately.
Donors receive a yearly report of recipients.
The institution is required to include scholarships as part of the student's total resources that are used to help offset the student's cost of education for the academic year. As new resources are added to the student's financial assistance for the academic year, federal regulations governing the institution may require a small number of students to repay certain federal funds. In addition, the type of funds that certain students receive may also require that the institution withhold taxes from the proceeds of the scholarship. Financial support based on academic achievement or other criteria that may include financial need. A grant recipient is selected based on specific criteria, which is typically set by the federal or state governments or the institution.