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Author Topic: question about scholarship funds???  (Read 1269 times)

mrbowlingnut

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question about scholarship funds???
« on: May 28, 2008, 03:39:08 PM »
I never bowled in the youth program and I have two kids soon going to be in the youth program, what happens to all the money you earn in tournaments if you do not go to college???

I read where alot you win pretty good money but it stays in a fund are you able to see how much is there at any given time???

 

ThongPrincess

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Re: question about scholarship funds???
« Reply #1 on: May 29, 2008, 02:20:38 AM »
If I recall correctly, the funds can also be used for Vocational or Trade schools after graduation from high school.
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willie makeit

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Re: question about scholarship funds???
« Reply #2 on: May 29, 2008, 08:15:09 AM »
There are limitations on what the money can be used for. There are organizations that hold money (like JBT) that are outside of USBC control. Although the rules for use of funds are generally the same, they can be different. With USBC/Smart, if the money is not used after it expires (usually 6 years after hs graduation or when the money is won if after HS graduation) then USBC is supposed to return it back to the organization(s) that the funds originated from. This is not always easy as organizations/people who run tournaments often come and go. As for other organizations that hold their own money, they usually use the expired money to enhance their current prize funds.

BigWillyStyle

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Re: question about scholarship funds???
« Reply #3 on: May 29, 2008, 08:33:00 AM »
You are also able to use it for: getting coaching lessons from a certified coach (you pay out of pocket, then get a receipt, then they will reimburse you for it)...and you can also use it to pay for getting certified as a USBC Coach (which is what I used some of mine for).

Big Willy Style

PS...these rules might've changed, since I just finished my 4th year out of youth!
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apocalyptic_rabbit

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Re: question about scholarship funds???
« Reply #4 on: May 29, 2008, 08:54:39 AM »
If they aren't going to college you can also fill out a policy exception and they will send you a check.

You run the risk of voiding youself from NCAA competition, but if your not going to college thats a problem
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KATHI

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Re: question about scholarship funds???
« Reply #5 on: May 29, 2008, 05:48:21 PM »
Big Willy:
SMART no longer allows the use of scholarship money for sports camps, lessons, equipment, etc.

Rabbit:
The policy exception applies to bowlers attending college but not participating in NCAA sports. After submitting the exception form a bowler can get reimbursed for qualified expenses already paid for by the bowler/parents rather than the check being submitted to the financial institution.

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