This Scholarship Agreement (“Agreement”) is made and entered into on this ___ day of __________, 20, by and between:
Grace Youth Mentoring and Community Outreach, a nonprofit organization with a mission to support education and opportunity (“Sponsor”),
AND
[Student’s Full Name], residing at [Student’s Address] (“Recipient”).
WHEREAS, the Sponsor agrees to award a scholarship to the Recipient in the amount of One Thousand Dollars ($1,000); and
WHEREAS, the scholarship is intended to support the Recipient’s education at an accredited college, university, or trade school;
NOW, THEREFORE, the parties agree to the following terms:
1. Scholarship Award
The Sponsor shall award a scholarship in the amount of $1,000 to the Recipient, to be used for educational expenses including but not limited to tuition, books, supplies, or other related costs.
2. Eligibility and Use
The Recipient must be enrolled in an accredited college, university, or trade school beginning in the academic year of ___________.
3. Completion Requirement
The Recipient agrees to complete at least one full academic year of study or complete the requirements of a certified trade program.
4. Repayment Clause
If the Recipient:
Withdraws or is dismissed from the institution before completing the first academic year,
or
Fails to complete a certified trade program,
then the Recipient agrees to repay the full $1,000 scholarship to the Sponsor within 90 days of withdrawal or dismissal, unless a waiver is granted due to extenuating circumstances as
determined by the Sponsor.
5. Proof of Enrollment and Completion
The Recipient must provide:
6. Failure to Repay
Failure to repay the scholarship within the agreed timeframe may result in legal collection action and could affect the Recipient’s eligibility for future funding.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [Your State].
8. Entire Agreement
This document contains the entire agreement between the parties and supersedes any prior understandings, written or oral.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.