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Thanks to a law enacted September 1, 1998, nonprofit
electric cooperatives are allowed to put unclaimed
capital credit funds to use for student scholarships.
These funds were previously collected by the comptroller's
office for the state general fund.
HB 3203 states that scholarship recipients should
be rural students and that they must attend a college,
technical school or another form of post-secondary
educational institution. A stipulation is that contributions
to the funds from all electric cooperatives in the
state cannot exceed $800,000 per year. Other requirements
and entry details about the scholarships vary from
co-op to co-op.
Contact your local electric co-op for more details.
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