We’ve been hearing lots of questions from Scholars about how stipends work, so we thought we’d offer a quick FAQ.
What is a stipend?
A stipend is a financial incentive that you receive to help cover some of the costs associated with your college education. It is not a scholarship and should not be reported to your college or university’s financial aid office, as it will lower the amount of aid you can receive. You can use your stipend for whatever expenses you deem to be necessary to completing your education: books, transportation, rent…etc.
You start out your college career with $6,000 in your stipend ‘bank’. Generally speaking, if you are enrolled as a full-time student and you are pursuing a 4 year degree, you will receive $750 per semester after completing the survey.
It’s the end of the semester, what do I need to do to receive my stipend?
What if I am enrolled as a part-time student?
Your stipend will reflect the number of credit hours you successfully complete as well as the degree you are pursuing. We offer partial stipends when Scholars do not take a full course load.
Do I need to have an official transcript to request my stipend?
No. An unofficial transcript is just fine, as long as it includes the grades for your most recent semester. Any grade documentation must include the Scholar’s name, semester term/date, college name, course names and final grades.
I’m not sure if I still have stipend money left, how can I check my balance?
Contact our business manager, Linda, at 518-935-1045 and she can look into your account balance.
I need an advance on my stipend. What do I do?
Contact Ben, our College Success Manager. He’ll discuss your need, review your case and your recent transcript and work with you to get you an advance, if you’re eligible.
My grades aren’t great for one or more of my classes, should I still submit the survey?
We understand that some semesters are more challenging than others for many reasons. Please complete the survey and share your transcript. We’ll schedule a time for you to meet with our College Success Manager in person or by phone. We can work with you to identify specific ways you can overcome challenges and be more successful in the future. You can get a partial stipend depending on your overall GPA and other factors.
I completed my associates degree. Can I get the rest of my stipend now?
Unfortunately, no. Stipends are designed for students completing 4 year degrees. If you aren’t planning on going on to a bachelor’s degree immediately, you can put your stipend on hold until you’re ready to return to college.
What if I didn’t request a stipend last semester, but I completed my coursework?
You should complete the survey as soon as possible, along with your transcript(s) from any semesters that you completed.
I took some time off from college and want to go back. Can I get an advance on my stipend?
We offer stipend advances on a case-by-case basis. Contact Ben Sweet in our office to schedule an appointment to talk about your options.
I’m taking time off from college. Should I still complete the survey?
Our current policy specifies that we will hold a stipend for at least six years after a Scholar’s high school graduation, after which time the stipend may be reassigned to an active student. Students may put their stipend on hold and ‘restart the stipend clock’ by completing the survey at least annually and notifying Sponsor-A-Scholar of plans to re-enroll in college at a future date.
Inactive students will be notified prior to their stipend being reassigned. Sponsor-A-Scholar will make every attempt (via phone, email, mail or social media) to contact a Scholar prior to reassigning a sponsorship.
We understand that everyone’s situation is different. If you didn’t see your question answered here, please feel free to contact us directly. Email or call Ben Sweet at 518-935-1046.