1. The scholarship will be awarded to the applicant whom the Scholarship Committee deems most deserving. It will be $2,000 scholarship paid in equal installments of $500 starting at the time of selection and then each of the following three years. The payments will be made as long as all the rules and regulations are followed.

2. The scholarship is available to only a boy/girl whose father/guardian is a living member in good standing or a deceased member who was in good standing at the time of his death of the Knights of Columbus Council #1043 in Elkhart, Indiana.

3. If during the installment period, the father/guardian is deemed not in good standing, the scholarship will be forfeited.

4. If during the installment period, the student withdraws from school or is placed on academic probation, the scholarship will be forfeited.

5. The Scholarship Recipient must correspond, in writing, with the Scholarship Committee after the completion of each year of college. In this correspondence you will state how the year went, accomplishments and goals for the upcoming year. Also enclose a copy of grades and credits earned for that year.

6. Any Scholarship Recipient who fails to send his/her yearly correspondence and grades will forfeit the remainder of their scholarship.

7. The Scholarship Committee of Council #1043 has the final decision in regards to any scholarship awarded by the Council.