Opening a Scholarship Account and Depositing Scholarship Awards
The ScholarShare Investment Board ("the Board") deposits all scholarship funds into the ScholarShare Trust. The funds earn interest from the day of deposit in the ScholarShare Trust. When the award was claimed, the award plus interest was transferred into a Student Scholarship Account within the ScholarShare Trust. This account names the State of California as the Account Owner and the student as the Beneficiary.
How the Value of the Award was Determined
The unit value method was used to determine the value of the award. The amount deposited in a Student Scholarship Account was divided by the trust unit price at the time of the deposit resulting in a specific number of trust units. The price of each trust unit changes, reflecting the increase in earnings per trust unit. For example, a deposit of $1,006.00 at a trust unit price of $10 equals 100.6 trust units. If one year later the trust unit price is $11, the value of the deposit will then be $1,106.60 ($11 times 100.6 trust units).
The scholarship award continues to earn interest until withdrawn by the student to pay for qualified higher education expenses at an eligible educational institution including most universities, colleges, graduate school programs, and technical schools that receive federal Title IV funds. Only Governor's Scholarship Programs awards may be deposited into the Student Scholarship Account.
Change Account Registration Information
Students who legally change their name (e.g. because of marriage) must complete an Account Services Form and mail it to the Governor's Scholarship Programs. Legal proof of the name change must be submitted with the Account Services form. This change will be reflected on the registration of the Student Scholarship Account and in payments to eligible education institutions.
Students who change their address, or identify a typographical error in the name, address or Social Security number on the Student Scholarship Account, should contact the Governor's Scholarship Programs and complete an Account Services Form and mail it with required documentation to the address on the form.
Inquire About Your Account
- By Phone
Students can inquire about their Account by calling the Governor's Scholarship Programs' toll-free number, 1 866-477-9665. To protect the student's privacy, only the student (not relatives or third parties) can receive information regarding the student's Account.
- By Mail
Students who have questions can write to the Governor's Scholarship Programs at the following address:
Governor's Scholarship Programs
915 Capitol Mall, Room 590
Sacramento, CA 95814
- By Internet
Student Scholarship Accounts cannot be viewed online.
- View our complete Contact List for other specific inquiries.
Receive Account Information in the Mail
Students received three types of written correspondence from the Governors Scholarship Programs.
- New Account Confirmation Statement
The first time a student successfully claimed a Governor's Scholarship Programs Award, a Student Scholarship Account was established. The student received a new account confirmation statement indicating the account number, the deposit amount, and date the Student Scholarship Account was opened.
Confirmation of Activity Statements
Subsequent confirmation statements are sent each time:
- Additional scholarship awards are successfully claimed and deposited;
- Qualified withdrawals are made;
- Changes or corrections are made to a student's name or address; or
- Funds are lost or forfeited. (See Loss of Funds and Appeals Process.)
- Annual Account Statement
In January or February of each year, an Annual Account Statement is mailed to each student with activity during the year in a Student Scholarship Account. This statement confirms each deposit and withdrawal made during the year, the total earnings in the Student Scholarship Account, and the total value of the Student Scholarship Account.