Financial Disclosure
In order for a candidate to qualify for The Beacon Scholarship for University, they and their parents must demonstrate financial need and undertake full and complete financial disclosure.
Parents or guardians must be committed both financially and educationally for their child to complete an undergraduate degree as a Beacon Scholar. The Beacon Scholarship is aimed at parents who can demonstrate financial need but are able to fund at least one third of the total cost of tuition, maintenance and one return economy airfare from their home country for a Beacon Scholar. Parents' share is expected to be in the region of £10-14k a year.
PLEASE NOTE: It is unlikely that parents with an annual gross household income below US$20k or above US$100k will qualify.
Parents will be invited to complete a confidential Financial Disclosure Form (see below) once an application has been reviewed. The Financial Disclosure form must be accompanied by electronic scans, in pdf or jpeg format, of the following documents and sent by email to The Beacon Equity Trust:
- the most recent 6 months' payslips for each candidate and their parent/guardian;
- letter from each parent's employer verifying their annual income;
- tax returns for the last 2 years for each parent/guardian;
- if self-employed, financial statements verified by an accountant.
PLEASE NOTE: failure to submit the above-mentioned documents or to complete the Financial Disclosure form in full may lead to the instant disqualification of the applicant.
On receipt of the Financial Disclosure form and accompanying documents the Beacon Equity Trust will review the suitability of the application. Supplementary information may then be requested.
In addition candidates and parents will be required to:
- Complete a Financial Disclosure Form on an annual basis or whenever required by The Beacon Equity Trust.
- Disclose any material change in financial circumstances to The Beacon Equity Trust. Should financial circumstances improve, there may be some re-negotiation of the proportion of fees paid by parents.
- Give one full term's notice to The Beacon Equity Trust should the candidate change their mind about continuing as a Beacon Scholar.
- An award of The Beacon Scholarship for University is for two-thirds of the total cost of tuition, maintenance and one return economy airfare from home country only. Candidates and their parents are expected to cover the remaining one-third plus additional costs for extras such as airfares, clothing and other transport.
