SWY Foundation was created in 2020 to provide financial aid to Black students pursuing higher education and/or entrepreneurial objectives. The organization offers educational savings plans (529 Plans) for Black students entering third grade in addition to giving scholarships to seniors in high school.
A dream is put off every year as tuition rises. Through the SWYF Scholarship, they are providing a $1000 scholarship to a deserving undergraduate student enrolled or accepted into an approved college or university to help with tuition fees.
- Host: SWYF
- Scholarship Award: $1,000
- Application: Online Essay
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What is the SWY?
Starts With You, often known as SWY, is a nonprofit organization that was established to provide financial aid to African American students pursuing higher education as well as those pursuing entrepreneurial endeavors. More African American CEOs and business owners are to be produced by SWY in order to act as role models for future generations.
Eligibility for the SWYF Scholarship
Who may submit an application?
Students of African descent who graduate from high school in 2023 and have a minimum GPA of 2.70 are eligible for the SWYF Scholarship. Candidates must be citizens or lawful permanent residents of the United States. For the 2023–2024 academic year, candidates must enroll in a recognized undergraduate program in the United States. The course must be offered at a recognized college, university, technical school, or trade or vocational school. Applications are not accepted from relatives or acquaintances of SWY affiliates.
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How to Apply
How should applicants submit their form? Only online applications are accepted. Please go to www.swyfoundation.com and select “Apply” from the list of SWYF Scholarships. Submissions must be made in a format that allows the candidate to best express their creativity. This can be anything from a PowerPoint presentation to a video, essay, etc.
SWY 529 Award
The Foundation launched a 529 educational account called the SWY 529 Award through ScholarShare529. Since a 529 plan is a sort of savings and investment account in which money grows tax-free if the withdrawals are for approved educational expenses, this particular reward differs from a scholarship. SWYF presents this prize at a young age so that the child has time to develop the strategy.
What Can Be Done With A 529 Plan?
The following items are among the eligible education expenses that can be covered by withdrawals from a 529 account:
K-12:
Tuition and Fee
College:
- Room and Board
- Special Needs Equipment
- Student Loans
- Tuition and Fees
- Books and Supplies
- Computers and Internet Access
How Does It Function?
As funds are deposited into the account, they are divided up into a portfolio of investments. The assets in this portfolio include cash, bonds, and equities. Making the most money while receiving the best return on investment is the aim. The student’s investment portfolio’s risk level is changed from aggressive to conservative when the anticipated year of college enrollment draws near. This investment portfolio bases its choice of investments on the deadline by which the student will require the funds to cover his or her permissible educational costs. Growth is not guaranteed because the market can vary, as it is with any investments, but we do promise a minimum award of $500.
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Conditions & Standards
Please make sure the student complies with and submits all requirements for any submission as follows.
- African American or Black
- Student is an American citizen or lawful permanent resident who resides in the United States.
- Currently in third grade, the pupil will enter fourth grade in the 2023–2024 academic year.
- A legal relative (family member) of the student is required to act as secondary beneficiary.
- The student wants to go to a four-year accredited college, university, or technical institute.
- Letter of recommendation from a principal, teacher, counselor, or other credible source
- Commitment to check in with the SWY Foundation annually.
Scholarships Frequently Asked Questions
Q: What must I submit with my scholarship application?
A: The prerequisites for applying will differ amongst scholarships. You should anticipate including your academic credentials and a couple recommendation letters at the very least. A cover letter or personal statement outlining your qualifications for the scholarship is a good idea to include as well.
Q: If I already get financial help, can I still apply for a scholarship?
A: Yes, even if you have received financial aid, you are still eligible to apply for scholarships. Scholarships and financial aid are two different types of financial support. Your eligibility for a scholarship is unaffected by whether or not you are getting financial aid.
Q: Do I have to file an FAFSA to be considered for scholarships?
A: The Free Application for Federal Student Aid (FAFSA), though not often required, may be part of the application process for some scholarships. This usually serves to determine your financial needs.
Q: Do I have to pay to submit a scholarship application?
A: No, you shouldn’t ever have to pay to submit a scholarship application. A scholarship that requests payment or a fee is probably a hoax.
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