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Allocation of Bonner Scholarship Funds

Page history last edited by Robert Hackett 5 years, 11 months ago

Process Overview


 

At the beginning of the fall, spring, and summer semesters the Foundation emails a scholarship allocation award letter to each of the Bonner colleges, based on the number of active or graduating Bonner Scholars for that semester. This process begins with the list of currently enrolled students, a list which is verified and signed by your Registrar before being submitted to the Foundation.
 
During the semester, the Director or Coordinator should submit a “Change of Status” form via the Bonner Web-Based Reporting System (BWBRS) if a student does one of the following: (1) withdraws from school, (2) takes a leave of absence, or (3) graduates (and therefore should have their status changed to receiving or awaiting loan reduction).
 
When the list and changes are approved by the Foundation via BWBRS, we generate an award letter and Allocation Report indicating what each student’s scholarship allocation is for that semester, broken out by each of the specific scholarship award sub-categories (i.e., school year suport, summer living stipend, etc.). An award letter and Allocation Report are emailed to the controller of each college, with a copy sent to the Bonner Scholar Program Director.
 
At the end of each semester, the coordinator submits the Reimbursement Report with the actual amount expended by each student and any outstanding balance recorded on the report. Typically, there are only outstanding balances for those students who may have withdrawn from the Program during the semester.  But some students may not have received the full amount of funding because they didn't complete requirements of the program.  The Foundation then verifies the balance via the BWBRS reimbursement report and then, if required, sends a letter requesting the reimbursement of Bonner Scholarship funds to those schools where such balances may occur.
  
This process repeats itself each semester and summer throughout the year.
 

Foundation Allocation to College


  

(a) Change of Status Forms
 
A Change of Status form should be filled out on BWBRS for each student who:
  • Withdraws or is dismissed from the program;
  • Takes a leave of absence from the program;
  • Is replacing a Bonner Scholar who withdraws or was dismissed from the program.

 

See step-by-step guide here:   

 

(b) Semester Lists of Active Students
 
At the beginning of each semester, the Bonner Scholars Program Director submits a list of the active and graduating students via BWBRS. It is this list that the Foundation bases the semester (or summer) allocation. For that reason, we ask that the list be verified and signed by the Registrar. For more details on the format of these lists, please refer to the BSP Rules in Chapter Eight of this handbook.
See step-by-step guide here:   
 
(c) Allocation Letter (Emailed)
 
Once all reports and student lists have been submitted, the Foundation then emails a semester allocation award letter that includes a PDF copy of the Allocation Report to the Business Office or Comptroller, and to the Bonner Director.  The Allocation Report itemizes the amount each students is allocated in each of the scholarship sub-categories (e.g., School Year Support, etc.).
 
Should the Foundation’s Allocation Report differ in any way from what you believe are the correct figures, please contact the Foundation immediately to discuss any discrepancies between the database and the list.
See step-by-step guide here:   
    • Semester Allocation Report:  directions for: 1) reviewing and completing the semester Allocation Report and 2) notifying the Bonner Foundation to review and lock the allocation report.

 

(d) Reimbursement Report
 
At the end of the semester the school will fill out the Expended and Balance columns of the Allocation Report, totaling the amount of unexpended funds for that semester or summer period. This completed Allocation Report should then be sent to the Foundation. Once we verify the amount of unexpended funds (by comparing our records of dates students withdrew or took leave), we will send a letter and finalized Allocation Report to the president requesting a reimbursement check from the school in the amount of the unexpended funds. [Again, please note that institutions with the Bonner Endowment would receive the letter but would be asked to send a reimbursement check to their Bonner Endowment account.]
 
File away reconciled Reimbursement Reports in a binder in your office.
See step-by-step guide here:   
  • Semester Reimbursement Report:  directions for: 1) reviewing and completing the semester Reimbursement Report and 2) notifying the Bonner Foundation to review and lock the allocation report.
 

 

College Allocation to Bonner Scholar


 

See Bonner Program Rules for additional explanation of these funds.

 

(a) School Year Support
School year support is not considered taxable income by the IRS. The Foundation has a ruling letter from the IRS which verifies this in case someone on your campus needs a copy.  The guidelines say that these funds should be allocated to the students in a series of checks throughout the semester. This gives the Bonner Program Director a way to penalize students who fail to keep up with their hours or reporting requirements. Normally, checks can be withheld until a student catches up in their hours or, at least, submits an approved plan for making up hours in a timely fashion. These policies and procedures must appear in your Bonner Scholar Handbook so every student understands the consequences for falling behind in their hours or reporting of hours.
 
(b) Summer Living Stipend
 
The Summer Living Stipend is allocated to support student travel and living expenses related to their summer service position. Each Bonner Scholar is required to submit a proposed budget for their summer living and travel expenses that will be reviewed and approved by their Bonner Director. Under the Bonner Scholarship Award revisions that go into effect in 2001-02 academic year, a total of $2,500 per student will be made available over the three summers . These funds will be begin to be allocated into the individual student’s Summer Living Stipend Account in the following amounts per year: $1,000 in the first summer, $1,000 more in the second summer, and $500 in the third summer. It is important to note, however, that students will be allowed to budget this account so that unused funds in one summer of service will carry forward into the next summer. In this way, students will be able to “save up” for a summer service internship or placement that requires more expensive travel and/or living arrangements.
 
Other than ensuring that student budgets reflect reasonable requests, the only other stipulation regarding the use of these funds is that will only be available to students when they engage in summer service placements. Thus, if a student chooses not to do service in their first summer, no allocation will be made by the Foundation into their Summer Living Stipend Account. The total amount is still available to be allocated by the Foundation, but the per year “deposit” into their account will simply be pushed ahead by one year. For example, if they do not do summer service their first year then they will have $1,000 available in the second year and $1,000 plus $500 more available in the the third, providing they engage in service both those summers.
 
(c) Summer Earnings Stipend
 
Under the new Bonner Scholarship Award, two Summer Earnings Stipends of $1,500 each summer are allocated per student for completing a minimum of seven weeks of full-time service equal to at least 280 hours. While these funds are available for the first summer, a student may choose to start accessing these funds in any two of their three summers as a Bonner Scholar.
The guidelines state that the summer earnings stipend should be paid at the end of the summer once the student’s summer service hours are verified and you have received all the required documentation from the student. These funds can either be paid directly to the student or credited to their term bill.  Summer earnings stipends are considered taxable income (unlike the School Year Support, which the IRS has ruled is not a taxable scholarship award).
 
(d) Rising Senior Fund
 
 Bonner Scholars are eligible for $500 in the summer prior to their senior year or during their senior year.  These funds can be used to support their summer service, a service trip, or attendance at a conference or other event related to their service, career, or graduate school opportunities.  They must submit a proposal to the Bonner Director or Coordinator.  Upon their approval, the proposal should be submitted to the Bonner Foundation (via email is fine) for final approval.  The Rising Senior Fund awards are allocated in the semester allocation report.
 
(e) Loan Reduction
 
 Bonner Scholars are eligible for $2,000 in loan reduction upon successful completion of their Bonner Scholarship requirements.  The loan reduction award should be paid directly to the education lender for the Bonner Scholar, not to the student.  This should be the default process.  However, students should be given the option to ask that their loan reduction not be paid out at the time of their graduation.
 

Related Resource Documents


  

 


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