Letter of Intent Example for Scholarship

LETTER OF INTENT (LOI): SCHOLARSHIP FUNDING & COMPLIANCE

DOCUMENT CONTROL

• Effective Date: [Date]
• Version: 1.0
• Jurisdiction: [State/Province], [Country]
• Scope: Academic Financial Grant / Scholarship Disbursement

1. OFFICIAL NOTICE & DISCLAIMER

This document constitutes a non-binding expression of intent (except where explicitly stated as binding regarding confidentiality and governance) between the Grantor and the Recipient. This document does not constitute a final scholarship agreement but serves as the foundational framework for the forthcoming Grant Agreement. Legal counsel should be consulted prior to execution to ensure compliance with local tax laws, private foundation regulations, and institutional policies.

2. PARTIES & DEFINITIONS

• Grantor: [Name of Organization/Individual], located at [Full Address] ("Grantor").
• Recipient: [Full Legal Name of Student], residing at [Full Address] ("Recipient").
• Academic Institution: [Name of University/College], located at [University Address] ("Institution").
• Scholarship Fund: [Name of Specific Scholarship Program].

3. OPERATIVE CLAUSES & TERMS

1. Intent to Fund. The Grantor intends to provide a scholarship grant in the amount of [Dollar Amount] USD (the "Grant Amount") for the [Academic Semester/Year] term.

2. Eligibility Conditions. The Recipient’s receipt of funds is strictly contingent upon:

• Proof of full-time enrollment in [Program Name] at the Institution.
• Maintenance of a minimum cumulative GPA of [e.g., 3.0 on a 4.0 scale].
• Submission of all requested tax documentation as required by the Grantor’s compliance office.

3. Use of Funds. The Grant Amount shall be applied exclusively toward direct educational expenses, defined as tuition, mandatory fees, and required textbooks. Any residual balance shall be handled according to the Grantor’s standard disbursement policy.

4. Term & Termination. This LOI remains effective until [Date]. Either party may terminate this intent with written notice, provided that no financial disbursement has been processed.

5. Confidentiality. Both parties agree to maintain the confidentiality of the terms of this LOI, excluding disclosure required by law or to relevant academic financial aid offices.

6. Governing Law. This document shall be governed by and construed in accordance with the laws of the jurisdiction of [State/Province].

4. SIGNATURES & ACKNOWLEDGMENT

IN WITNESS WHEREOF, the parties have executed this Letter of Intent as of the date first above written.

GRANTOR: Signature: __________________________ Printed Name: [Name of Authorized Signatory] Title: [Title] Date: [Date]

RECIPIENT: Signature: __________________________ Printed Name: [Full Legal Name of Recipient] Date: [Date]

5. STEP-BY-STEP EXECUTION GUIDE

• Step 1: Verification. Before signing, the Recipient must confirm with the Institution’s Financial Aid Office that the receipt of outside scholarship funds will not result in a reduction of the Recipient's existing institutional financial aid package.
• Step 2: Execution. Both parties must execute two original copies of this LOI. Digital signatures (e.g., DocuSign, Adobe Sign) are acceptable provided they conform to the eIDAS or UETA standards.
• Step 3: Document Routing. Once signed, submit a copy to the Institution’s Bursar/Financial Aid office to ensure the scholarship is properly recorded in the student’s ledger.
• Step 4: Formal Agreement. Use this LOI as the primary exhibit when drafting the formal, binding "Grant Agreement," which should incorporate specific tax reporting (e.g., IRS Form 1098-T relevance) and audit clauses.