Olgoonik Foundation Scholarships

Scholarship applications must be submitted in one of the following ways: 

Email (preferred): [email protected] 

Fax: (907) 763-2926 (Wainwright) or (907) 562-8728 (Anchorage) 

Please list Attn: Shareholder Services on all faxed applications 

Mail:

Olgoonik Corporation 

Attention: Shareholder Services 

3201 C St., Ste. 700 

Anchorage, AK 99503 

Applications may also be dropped off in-person to the Wainwright or Anchorage offices. 

Notification of scholarship award or denial will be within one month of receipt of the completed application. 

Undergraduates can receive $225 per credit each semester or $188 per credit each quarter. Graduates and doctorates can receive $445 per credit. Funding limits are $9,000 per calendar year — $24,000 per lifetime. The lifetime cap of $24,000 applies to either the training award program, the scholarship award program, or a combination of the two.

Funding is sent directly to the student’s school. Books, supplies, and equipment charged to the student’s account can be paid for by the scholarship. The scholarship cannot reimburse out of pocket expenses paid by the student. 

•Room and board at the college 

•Tuition and fees 

•Books, supplies, and equipment required by the school 

•Private housing such as apartments or hotels 

•Travel expenses to attend school 

•OF scholarship application  

•Family tree or adoptive family tree  

•Degree credit/class requirements or DegreeWorks audit  

•Class schedule showing term, credits  

•Latest official transcripts  

•Three (3) letters of recommendation  

•Short essay of future plans  

•Budget forecast/need sheet  

•Agreement for scholarship  

•OF scholarship application 

•An email stating your intent to continue school. This must include a verification that your information, class standing or year, and program/degree is unchanged, or you must update any changed information.

•Unofficial transcripts reflecting your last term’s final grades 

•A copy of your upcoming course schedule with number of credits for the term clearly listed 

•An updated budget forecast for the current term. Students may use the Olgoonik-provided form or a budget forecast from his or her school, completed and signed by the student. Budget forecasts should reflect the student’s actual costs for the term. 

•Agreement for scholarship (signed after the scholarship has been 

approved by Olgoonik and before a check is sent to student’s school) 

Recipients must maintain a 2.0 GPA or equivalent in order to continue receiving scholarship funding. A scholarship recipient must not be on academic probation; however, Olgoonik Foundation may make a one-time only exception for extenuating circumstances. If a student is unable to remain in good academic standing, the student may be placed on probation or have the scholarship revoked. If the student is placed on probation, has the scholarship revoked, or does not complete the attempted credits for which funding was granted in that term, the student may be required to pay back the scholarship. Failure to comply with policies will result in a loss of funding. 

Students who are currently in school may not have final grades for the current term available by the deadline date. All other documents above must be submitted; however, students will be allowed up to one week after their grades are posted by their school to submit unofficial transcripts with final grades.

For example: You are student who is currently attending college during the spring semester. You will be taking classes and want to apply for summer semester funding. You must submit an application and required documents by or before May 1, which is the nearest deadline date before the start of your summer classes. Your school will post your spring final grades by May 6, which is after the application deadline. Not to worry, you will have until May 13 (one week) to submit an unofficial transcript showing final grades and GPA to be considered for summer semester funding.

New applicants and applicants reapplying after two or more years: If you are a new student or applying as a new student and already enrolled in a college or university, the same information applies, except students must submit an official transcript within one week of final grades being posted.

Yes. Students must reapply each term to be considered for funding. This requirement has not changed. If you are a student who received funding last semester or quarter and want to apply for the upcoming term, please follow the “Returning Applicants” procedure, which can be found on Page 2 of the OF Scholarship application cover page. Please note, this is for reference only. You do not need to resubmit an application form.

That depends. Among other eligibility requirements, an applicant must either 1) possess Class A or Class B shares in OC, or 2) be a direct lineal descendant of an original Class A OC shareholder. Having familial roots to Wainwright or being related to any OC shareholder is not enough to be considered eligible.

Applicant eligibility as a shareholder or descendant will be verified by OC. To be considered a direct lineal descendant, the applicant’s parent(s), grandparent(s), great-grandparent(s), or great-great grandparent(s) (by birth or adoption) must have received original Class A shares as part of the original issuance of shares.

First-time applicants and applicants reapplying after two or more years do need to submit an official transcript. transcript is considered official if:

• The transcript is marked as “Official” and delivered by mail to OC in a sealed/unopened envelope directly from the student’s school.
• The transcript is marked as “Official” and delivered electronically to OC via a secured electronic transcript service OR emailed by a school official.
• The transcript is a photocopy that is clearly labeled by the school as “Official,” marked with an official seal that is visible or with a signature from a school official. This document must be unaltered.

Students who are reapplying after receiving funding in the previous term may submit an unofficial transcript that shows final grades and GPA.

Yes. Funding received under the OF Training Award program counts toward the annual and lifetime caps.

For example, a student is working toward a culinary certificate and received $2,000 under the OF Training Award program in January. The student later applies to attend a college for an undergraduate degree and applies for an OF Scholarship in May for the summer semester. When the student applies for scholarship funding, the amount remaining in his or her annual cap has been reduced from $9,000 to $7,000 and he or she has also used $2,000 of the $24,000 lifetime cap.

This depends. Some scholarships allow students to receive the excess funding available after the student’s account is paid, while others may require that funding to be reimbursed back to the foundation.

Currently, OF allows students to keep excess funding. The Foundation understands that students may receive several scholarships and is not aware of which scholarships may be received by the student’s school first. If a student receives the OF Scholarship first and then receives a scholarship that requires excess funds to be returned after the account is paid, the student may not receive any excess funding.

As with other foundations, the rules and requirements for keeping excess funding can change at any time and is at the sole discretion of the Olgoonik Foundation. If the Foundation’s policies change, students may not be able to keep excess funding in the future and it may be required to be returned.