The USBC Scholarship Management and Account Reporting for Tenpins (SMART) program is making an investment earnings allocation of $7 million to provide additional scholarships for youth bowlers. The $7 million allocation matches the largest investment earnings allocation in SMART history.
Due to new policy adopted in 2021, a portion of the allocation will immediately go to new scholarships for youth bowlers. Included in this allocation (approximate numbers):
- $3.6 million in bonus scholarships to the 3,707 active SMART Recipients. These are students who requested use of SMART funds in 2021. Each student will immediately receive a new $980 SMART scholarship.
- $2.2 million in new SMART deposited unassigned funds for Providers to allocate. This is in addition to the new $2.7 million SMART deposited unassigned funds Providers received for allocation in January from expired Recipient accounts.
- $1.2 million set aside for the new SMART Pell Grant Match.
USBC’s SMART Committee intends to maintain the annual earnings allocation at $7 million or more through at least 2024, unless investment market conditions significantly change. This will allow SMART Providers and Recipients to plan on similar new funds from SMART for three years.