The Farm Credit Associations and Regions Bank has provided for the scholarships that were previously earned by participants but not yet awarded by the State Fair of Virginia. These funds have been turned over to the Virginia Tech Foundation, and coordinated with Virginia Cooperative Extension, for proper administration.
The State Fair of Virginia filed for bankruptcy in 2011 and the matter has been favorably resolved wherein the bondholders, comprised of Farm Credit Associations and Regions Bank, received custody of these funds. The bondholders unanimously agreed to honor the promise made to the scholarship recipients by the State Fair of Virginia.
Farm Credit and Regions Bank has always been and continue to be very supportive of youth and their interest and education in the field of agriculture. It is their hope that these funds will be of assistance to these deserving youth as they pursue their dreams of a higher education.
Earnings will be paid directly to the student’s account at the accredited educational institution of his/her choice. After enrolling in school complete the Scholarship Payment Request Form and submit to the school’s registrar’s office. The registrar’s office will then forward the request to the State 4-H office for payment. Scholarships not used by the recipient’s 24th birthday will revert from that student’s name back into the Farm Credit/Regions Bank Scholarship Fund.
Scholarships earned through State Fair competitions in 2012 and earlier are held in an account at the Virginia Tech Foundation. Students with scholarship earnings from 2012 and earlier will receive an annual statement from that account and will submit a request to the Virginia Tech Foundation for disbursal of funds. Therefore, a student who earned scholarships both before and after the 2012 State Fair will request scholarship funds from two organizations.
Any scholarships earned after 2012 are being managed by the State Fair of Virginia. Please visit the State Fair of Virginia website for general information. If you have questions regarding the State Fair Scholarship Program or procedures for awards after 2012, please contact Glenn Martin at 804-994-2858 or Stuart Sanders at 804-994-2743.