Matching Funds at the time of Voluntary Withdrawal from the Foundation
Students who voluntarily withdraw from the program, and have notified the Foundation in writing by January 31st of the year they are withdrawing have 30 days from the date of withdrawal (or when funds are received from the fellow’s sponsor) to request matching funds for qualified expenses. At the end of the 30-day period, any balance in the MFA will be forfeited. If notice of voluntary withdrawal occurs after the January 31st deadline, any remaining matching funds will be forfeited immediately, without the 30-day grace period.
Matching Funds at the time of Dismissal
Students who are dismissed from the program for failure to meet either academic or work performance standards required for the program will not be eligible to use any remaining balance in their MFA.
Matching Funds Hold-back for Summer Conference
Due to the significant costs incurred for the Summer Conference each year, the Foundation will place a hold on all students’ matching funds in the amount of $500 to cover any of the following:
• Changes to travel reservations requested by students that involve additional cost after a reservation has been made.
• Cancellation of travel reservations, at the request of a student, after a reservation has been made.
• Additional costs incurred for travel reservations as a result of a student being on academic probation.
• Costs incurred for hotel accommodations due to student cancellation for any reason but illness that has been medically documented.
Funds will be deducted from the accounts of students who initiate any of the circumstances noted above.
Matching Funds at the time of Graduation
Students are encouraged to utilize their matching funds for qualified expenses prior to obtaining their undergraduate degree. Within 30 days of graduation from college (undergraduate program), access to matching funds is concluded.