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Scholarship Race Award Rules and Regulations

Scholarship Race Award Rules and Regulations

 

  1. All scholarship awards earned during an AMA sanctioned scholarship race event can be redeemed into a 529 account provided by the recipient or guardian of the recipient if underage.
  2. Please use the following website to find instructions and rules pertaining to the recipients state they reside in. ​529 Accounts
  3. It is the responsibility of the recipient and/or the guardian of the recipient to contact Andrea or Tasha at On Track School to request the funds to be transferred to an approved account. You must provide the following for funds to be transferred:
    a.  Name of Racer
    b.  Contact information
    c.  Race event name and date.
    d.  Race Class and placement
    e.  529 account number
    f.  Scholarship Award Request Form
  4. Please allow 7 to 10 business days for the awarded amount to be transferred to the account provided.
  5. All scholarship awards must be redeemed by June 30th of each year or the recipients awarded amount from any event not redeemed with be forfeited and donated to the Dave Coombs Sr Scholarship fund for continuing education applicants.
  6. All awards are non-transferrable and only redeemable by the recipients of the award or the guardian if the recipient is underage.
  7. Awards are eligible to be donated back to the Dave Coombs Sr. Scholarship fund for ongoing and ​ongoing and continuing education with a school of your choice including On Track School which offers dual credit with GCU, vocational, or college programs.
  8. Each year a panel of appointed judges within our community will determine awards from remaining funds to be distributed to applicants. Final disbursements will be paid out by December 31st.
  9. Acceptable educational institutions will be determined by the rules pertaining to the 529 accounts as well as the end of year disbursements of the scholarship awardees.