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Is there a penalty for taking money out for non-qualified purposes?

Unfortunately, yes. Earned funds withdrawn for non-qualified purposes are subject to federal income tax, plus an additional 10% federal penalty. Taxable withdrawals are subject to just the federal income tax but no additional penalty.

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How does the Diversity in Leadership Scholarship work?

The Diversity in Leadership Scholarship awards up to $25,000 to two students per year.

Who is eligible for the Diversity in Leadership Scholarship?

This scholarship is available to underrepresented and diverse students from Oregon high schools enrolling full-time at a Title IV-eligible institution in Oregon.

How do I apply for the Diversity in Leadership Scholarship?

You can apply for the Diversity in Leadership scholarship in just four steps.

Take the first step.

The sooner you start saving, the more it pays off.

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