Introduction
The John B. and Brownie Young Memorial Fund was established in 1961 by Senator Gates F. Young to recognize deserving high school seniors graduating from high schools in the Owensboro, Daviess County, and McLean County public and parochial school districts. The scholarships are primarily intended for the first year of college, but scholarships may be and frequently are awarded for education beyond the freshman year. However, renewal applicants should keep in mind that there is no guarantee of an award beyond the freshman year. Renewal awards will vary each year.
Independence Bank and Trust Department acts as Trustee of the John B. and Brownie Young Memorial Fund. The trust is administered with the assistance of an Advisory Committee consisting of superintendents from each of the school districts whose students may receive scholarships from the trust.
Eligibility for renewal scholarship – McLean County Students only
To be eligible for a renewal Young Memorial Fund Scholarship, a student must have received an award for the preceding scholarship year, be unmarried, and plan to attend an accredited nonprofit college, university, or vocational/technical school on a full-time basis (12 credit hours). Students must remain unmarried during the award year (fall & spring college semesters) or the award will be forfeited. Students must also remain a full-time student or the award will be forfeited.
Eligibility for renewal scholarship – Daviess County & Owensboro Divisions
Should funds become available for renewal scholarships, eligible students will be contacted.
Awards
Amounts awarded vary greatly between recipients. In determining the amount of the award, the Trustee and Advisory Committee consider all relevant factors, including but not limited to the estimated family contribution (EFC) which is generated when the student files the FAFSA, and the average cost of attending the institution of their choice. Letters setting forth the amount of each scholarship award will be mailed to students in the summer.
Application Procedure
The application must be received by Independence Bank by May 1st. DEADLINES WILL BE STRICTLY ENFORCED. It is strongly recommended that each applicant file the Free Application for Federal Student Aid (FAFSA) early in the year in order to be considered for a scholarship amount greater than the minimum award. A copy of the Student Aid Report from the FAFSA website showing your Estimated Family Contribution and your transcript is required before your application will be processed.
Payment of Funds
Checks will be made payable to and mailed to the college or university. The checks will be issued in early August and in early January.