Leader Development Scholarship

Purpose

The purpose of this needs-based scholarship program is to support career preparation and development of high potential leaders for the benefit of both the individual and the organization, as well as to encourage the retention of talented employees. Applicants must demonstrate financial need as defined in the policy. The amount of this scholarship is up to $4,250 per year. For accepted candidates, this program will apply in addition to the current TAS Advanced Degree Tuition Reimbursement Program. Consistent with IRS regulations, the total benefit paid to the employee under both programs is limited to $5,250 per calendar year.

Program Eligibility

• All full-time employees of The Austin Stone are eligible to apply for a scholarship under this program.
• The preference of this program is for the pursuit of a multi-year advanced degree in a field relevant to the work and development of the individual. An undergraduate degree may be considered in certain circumstances.
• Advanced education opportunities should be relevant and beneficial to the role and development of the employee, as well as relevant and beneficial to the mission and priorities of the organization.
• Advanced education applications should also be within the current resources available.
• Applications for retroactively paid-for or courses already in progress will not be considered as part of this program.

Scholarship Eligibility

Scholarship selection will be assessed using these primary criteria:

Practical Eligibility

• Full-time employment status at TAS.

Financial need

• Need is defined as employees who otherwise could not afford to pay for an advanced degree program without assistance.
• Applicants must be able to demonstrate a need and may be required to disclose personal financial information.
• To be eligible for the Leader Development Scholarship, household adjusted gross income (AGI) must be below $72,000.

Performance contribution

• Contribution is defined as consistently performing at an exceptional or exemplary level, as informed by the employee’s annual performance review and rating.  
• The application should include a letter of recommendation by the employee’s Department Leader and/or Division Head to affirm that pursuing the degree program is both relevant and beneficial to the needs and priorities of the organization. The recommenders should validate the applicant’s level of performance and contribution to the organization both as currently observed, and in consideration of future potential.

Scholarship Selection Process

• The candidate’s Department Leader and Division Head will determine if they agree on recommending the individual for this program. Upon agreement, the Department Leader and Division Head should write a letter of recommendation affirming that the staff member pursuing the degree program is both relevant and beneficial to the needs and priorities of the organization.
• If the Department Leader and Division Head recommend the candidate for this program, then the candidate may submit an application by June 1 for the fall semester or October 15 for the spring semester.
• Applications will be reviewed by the Executive Team (or a scholarship committee if delegated by Exec. Team) who will evaluate the application and determine if the candidate has met all of the scholarship requirements. 
• Upon Exec. Team’s recommendation of award recipients, a third individual (or group of individuals) determined by the Exec. Team will be consulted for final approval. 
• HR will confirm the availability of funding within the approved annual program budget and compliance with the other requirements of this program. 
• After assessing applications, the Exec. Team (or scholarship committee) will select the final scholarship award recipient(s) for each year.
  • If declined, the Division Head will discuss the decision with the employee in person.
  • If awarded, Exec. Team will communicate the decision with HR, who will provide an award letter for the employee, outlining the program details. All awards are subject to the terms of the Leadership Development Scholarship Program.

Scholarship Applications

• Scholarship applications must be submitted by June 1 for the fall semester or October 15 for the spring semester to allow for the scholarship application review process.
• Applications must include the following to be considered:
  • Recommendation by Department Leader and Division Head
  • Descriptive information regarding the degree program you wish to enter. This will be an official program description from the school website/catalog.
  • An official verification of the tuition cost (per credit hour or per course) from the school website/brochure/catalog.
  • A copy of your FAFSA or most recent tax return that demonstrates a financial need. 

Program requirements

Once an employee has been awarded the Leadership Development Scholarship, the following requirements apply:

• Scholarships will be awarded for the duration of the degree program, or for as long as eligibility and/or performance criteria are met.
• The scholarship availability time limit will be set based on the program duration set forth at the time of application.
• To qualify for scholarship in subsequent years of a degree program, students must show that each course was passed with:
  • a grade of “B” or above for classes in a graduate program
  • a grade of “C” or above, for classes in an undergraduate program
  • or a grade of “Pass” in the case of pass/fail grading
• Scholarships are also limited by budget and funding availability

Reimbursement Eligibility

Eligible expenses under the approved degree program will be reimbursed by submitting a request for reimbursement along with appropriate receipts and/or transcripts.

• The following expenses are eligible for reimbursement under this scholarship program: tuition, fees, books, and required supplies related to the degree program.
• Eligible expenses under the approved degree program will be reimbursed as education expenses are incurred. Education expenses prior to approval of the scholarship are not eligible for retroactive reimbursement.
• Course hours under the ASDP program are not eligible for reimbursement under this scholarship program. 
• Students must be actively employed by The Austin Stone at the time of submission for each reimbursement.

Any exceptions to the above eligibility requirements are to be recommended by the student’s Division Head and formally approved on a case-by-case basis by the Executive Team and a third person or group of people.

Please note: The student will be responsible to the Department Leader to manage their time and effort in the degree program while remaining faithful to their job responsibilities.