India Association of Fort Myers

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India Association of Fort Myers, Inc. Scholarship Fund.

India Association of Fort Myers has established a scholarship endowment fund at the Florida Gulf Coast University for the benefit of the needy students. Students qualifying under the following criteria would receive $1000 as the IAFM scholarship. This scholarship will be awarded every year to a deserving student.

Here is the scholarship criteria.

  1. Recipients of the scholarships will be First Generation students as defined by the Florida Department of Education’s First Generation Matching Grant Program.
  2. Specifically, the recipients will
    • Meet Florida's residency requirements for receipt of state student financial aid by maintaining Florida residency for purposes other than education for a minimum of twelve consecutive months prior to the first day of class of the academic term for which funds are requested. A student's residency status is determined by the post secondary institution;
    • Not owe a repayment under any state or federal grant or scholarship program;
    • Not be in default on any federal Title IV or state student loan program unless satisfactory arrangements to repay have been made;
    • Not have previously received a baccalaureate degree;
    • Be a First Generation college student. A student is considered "First Generation if neither of the student's parents earned a college degree at the baccalaureate level or higher. A student would also be eligible if he/she regularly resided with and received support from only one parent who did not earn a baccalaureate degree.
    • Be accepted at the University;
    • Enroll for a minimum of 6 credit hours per term as a degree-seeking undergraduate student;
    • Demonstrate financial need by completing the Free Application for Federal Student Aid (FAFSA).
  3. When possible, preference will first be given to students of South Asian or Asian Indian heritage and then to any other full-time students.
  4. The University will request the Florida Department of Education’s First Generation Matching Grant Program match the annual scholarship proceeds from this fund to significantly and directly benefit the recipients.
  5. The Foundation will continue to hold, invest, and administer the India Association of Fort Myers, Inc. Scholarship Fund in accordance with Foundation, University and Florida Board of Education rules, regulations and policies. For convenience of administering the investment, the Foundation may consolidate any endowment funds contributed pursuant to this Revised Endowed Fund Agreement with any other endowed funds held by the Foundation, and may hold, administer, invest and reinvest any number of endowments as a common fund and distribute the principal and income proportionally among them, so long as the beneficial use of each endowment is not altered or invaded.
  6. This Revised Endowed Fund Agreement may be revised with the consent of all parties.
  7. The Revised Endowed Fund Agreement will be binding upon the administrators, assignees, and successors of the respective parties.