Hub City Business Network Scholarship

Purpose: Provide financial awards to students entering or currently enrolled in a college or university who is working to achieve their educational goals through a degree in business. It is the desire of Hub City Business Network (HCBN) to promote excellence through promoting business by encouraging and supporting young, bright and talented adults to further their education.

This gift may be used for vocational, undergraduate, and/or graduate study. This scholarship will be awarded to the recipient during the spring luncheon awards banquet. The scholarship recipient must attend this event to receive this award. The recipient will be chosen from Lamar, Forrest, Covington, Jones and Perry Counties.

The funding of this gift will be paid through a monetary gift made available by the HCBN. The gift will be in the amount of One Thousand Dollars ($1,000.00). This gift will be given only (1) time a year to a single recipient. All scholarship applicants must complete an application annually. Applicants are eligible to receive this scholarship multiple times. The gift will be presented in the form of a check written out directly to the recipient.

Applications must be postmarked by May 1, 2016. You can send all applications to:

HCBN Scholarship Application, C/O 201 N. 25th Avenue, Hattiesburg, MS 39401.

Eligible applicants

• Applicant must be a Mississippi resident

• Must be graduating high school senior, or currently enrolled in a College, University or CommunityCollege

• The preference is but not exclusive to family members of HCBN; however, the Scholarship Point Matrix will be adhered to.

• Entering or currently working on a degree in business

• Must be considered a Full Time Student

Primary award criteria

• Academic achievement (GPA and ACT Scores)

• Community involvement

• Leadership

• Extracurricular Activity

• Student essay (250 min. – 300 max word)

To date, “How have your life experiences helped you decide to pursue a degree in business?”

Other criteria each applicant

• Three (3) Letters of Reference

• High school or college transcripts

• Neatness of application

• Followed correct directions of the application and all information on application is complete

Application procedures

The information requested on the application should be a reflection of the selection criteria designated for the scholarship program.

• Applications will be made available by HCBN Members, found on the HCBN website and given to the school guidance counselor.

• Applications can be mailed to 201 N. 25th Avenue, Hattiesburg, MS 39401 or delivered to an HCBN member in good standing according to the Treasurer and the HCBN By-Laws.

• Scholarship winners will be notified by phone call from the standing President of HCBN.

• The gift will be given at the HCBN Scholarship Award Banquet which date will be set by the Scholarship Committee.

Selection procedures and policies

The HCBN Scholarship will follow all State and Federal tax laws. The HCBN has the option to set up a fund to where the principal is invested as part of a consolidated fund. The fund is always accounted for separately within the fund. As the principal grows through investment, a portion of these earnings may be transferred into a separate “spending” account. The earnings from this fund may be used for this scholarship that the HCBN have specified. An investment broker may be used to advise the Scholarship Committee (4 members) and the members of HCBN on the best ways to grow and maintain this endowment.

The Scholarship Committee and Executive Directors of HCBN will be the screening body of all the applications received. If a member of the Scholarship Committee and/or the Executive Directors of the HCBN have a family member who has turned in an application, that HCBN member will treat all applicants with same high standards in their review of all applications and show no favoritism towards their own family member. The Scholarship Committee and Executive Directors of HCBN will ultimately vote the recipient of the scholarship. Each person will have one vote. There will be a total of 7 votes. If there happens to be a committee member that has a family member who has properly filled out the HCBN Scholarship application and meets all requirements set forth, the HCBN member may be able to cast his or her vote for their family member, however they will not be able to pressure or persuade other committee members to vote one way or the other.

Administration of the scholarship is a very important consideration, as it is the ongoing process.

This process will ensure the success and perpetuity of the program. Information on the scholarship will be available for any HCBN member at any request. There will be a report from the Scholarship Committee on the status of this fund given twice a year. The dates will be determined but October and April have been recommended.

The selection criteria are the specific standards used to identify qualified applicants who ultimately will be recommended as scholarship recipients. The criteria has been accepted and used as the standard to help choose the HCBN Scholarship recipient. There will be a point matrix used in establishing the score of each applicant.

Award and Distribution of Scholarship Funds

In order to maintain fairness in the selection processes, a minimum of five (5) Applications must be received for consideration and distribution of scholarship funds.

HCBN SCHOLARSHIP POINT MATRIX

Point scale is based on 1 – 5 with 1 being the lowest and 5 being the highest. The total number of points combined from all sections will be added up and this will be the applicants score. If the essay part of this application is left off, the applicant will be disqualified. Each HCBN Scholarship Committee member will read and apply a point score to all applications. Each individual applicant will have their total number of points calculated. The applicant with the highest number will be awarded the scholarship.

In the event of a tie, the tie breaker will be determined by all of the members of HCBN in good standing. The members will be required to read the applications that have qualified for the tie breaker. They will use the same matrix and scoring process as the HCBN Scholarship Committee and apply a point score for each applicant. Each individual applicant will have their total number of points calculated. The applicant with the highest number will be awarded the scholarship.

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