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Ridley's Scholarship Advantage Program
Frequently Asked Questions
I have more than 1 child, can I sign them all up for the program?
Yes, if you have more than 1 child, they will all have separate accounts on the
sign up form and will share all of the funds equally.
Can I sign up to support a child that is not my own?
Yes, many grandparents like to sign up to earn money for their grandchildren. All you need is their required information on the Scholarship Program sign up form.
Can I have more than one family support my child?
Yes, if a child's parents and grandparents for example want to support a child, this
will let the child earn money in their scholarship account twice as fast.
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If my child's college uses trimesters, can they make withdrawals 3 times a year?
Yes, if the college your ch
ild attends uses something other than the traditional
2-semester year, we will arrange the withdraws to coincide. For example, in the
case of a trimester, the student would receive 3 payments for 4 years, for a total
of 12 payments. The first payment would be 1/12 of the total account balance, the
second would be 1/11 and so on.
What can the Scholarship account be used to pay for?
The Ridley's Scholarship Advantage account is designed to pay for tuition. This is the only school expense item that the Scholarship account will reimburse the student for.
Can I continue to use the Scholarship Advantage Program after the initial 4 years (8 semesters) if my child continues their education?
Yes, the fund will be emptied when we pay the 8th semester payment, but you can continue to use the program and receive the full amount paid back at the end of each subsequent semester.
How long is the fund available for my child to use?
Payments are available out of the fund until the child is 25.
Do I have to use the money in my child's account for that child only?
Yes, the money in every child's account is for the use by that student only. Payment will only be made if the full name and social security number on the tuition bill and Scholarship Program match exactly.
What will happen to the scholarship money if my child chooses not to attend college for any reason?
The scholarship money in t heir account will be used to help fund scholarship programs for other students at Ridley's discretion. |
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