FILLMORE COUNTY FOUNDATION

2003 SCHOLARSHIP GUIDELINES

Four Year Scholarship - (deferred forgivable loan) (1)

Eligibility Intent to apply for a Four-year Scholarship must be stated, either as a part of an application for the Four-year Scholarship, or as part of another application for another Fillmore County Foundation scholarship. If the application for the Four-year Scholarship is part of another scholarship application from the Fillmore County Foundation, be sure to include a short paragraph detailing your plans to return to Fillmore County.

Amount $500 per year renewable up to a total of 4 years (max. $2,000, grantee must be full time student)

Allowable tuition, books, room, board, etc. at school of grantees

Expenses choice; (Community College, Private and Public Colleges and Universities, Business Schools, Technical Schools, etc.)

Application contents should include the following:

-Personal letter of introduction with extra curricular activities, work experience, and community activities described The letter should also state that the application is for the four year scholarship. (Students may use the same letter for general and four year scholarships)

-Narrative about future plans for education (school of choice, why chosen, etc.)

-Long range goals

-Class ranking

-Grade transcript

-ACT scores.

*Short paragraph detailing your plans to return to Fillmore County

*must include this for consideration

Deadline Tuesday, April 15, 2003

Payment check will be issued after July 1, 2003 by presentation of

your acceptance letter and a photo to the Trust Department of the Geneva State Bank. The check will be made payable to you and the school you will be attending. Checks may be cashed at your school's financial aid office.

Additional Should the recipient of the Four-year Scholarship not return and reside or work in Fillmore County for four years after they are not longer a full-time student, the scholarship funds they have received will be required to be refunded interest-free at the rate of $500.00 per year, commencing one year after they no longer reside or work in Fillmore County.

If the scholarship recipient returns to live in Fillmore County and does not reside or work in Fillmore County a full four years, the refund will be prorated to the years lived in Fillmore County after they have received the scholarship funds, rounded up to whole years.

If a full $2000.00 scholarship was not awarded, the four-year residence or work in Fillmore County requirement will be reduced to one year for each $500.00 scholarship payment.

For example, if, after graduating on June 1, 2004 from college, a $2000.00 scholarship recipient lives in Fillmore County for two (2) years, three (3) months, and leaves September 1, 2006, the refund of $500.00 is due September 1, 2007. If the scholarship recipient received only $1,500.00, then the four-year requirement is reduced to three years and there would be no refund under the example.

All decisions of the Fillmore County Foundation Scholarship Committee are final.