Rising tuition prices, the down economy and financial hardships for North Carolina have many high schoolers and their parents rethinking aspirations of going off to live campus life.

However, graduating students who reside in Richmond County have until March 23 to apply for the check that could help them keep their dreams on track to becoming a reality.

That is the deadline for applications for a pair of scholarships worth $5,000 and $7,500 a year from the Cole Foundation’s Scholarship fund.

“Each year, we give out 25 $5,000 scholarships for four years for those high school graduates who are going to attend a four-year university,” Cole Foundation Scholarship Committee member Charles Deane said. “Those who are awarded these scholarships must be residents of Richmond County.”

In addition to the $5,000 academic scholarships, he explained the foundation also awards $7,500 a year Sally Cole Visual Arts Scholarships to students who pursue a degree in the visual arts.

“We encourage parents and students to apply for these need-based scholarships,” Deane said.

Applicants are screened through the Foundation For the Carolinas, which administers the scholarship programs, and if they are determined to be eligible their applications are delivered to the Cole Foundation’s Scholarship Committee to select the most deserving applicants.

Deane explained that committee looks at the student’s academic career and accomplishments.

“Certainly, GPA is important, but we also look at class standing, extra-curricular activities and club memberships,” he continued. “We want our students to be well-rounded, successful individuals.”

The scholarship has undergone some changes in the way it is handed out over the past two years.

Before 2008, only students who graduated during the Spring semester of the current school year were eligible to apply for any of the Cole Foundation scholarships.

This year any high school graduate enrolling in a college or university for the first time during the Fall 2010 semester is eligible to apply.

“The Cole Foundation Scholarship Committee recognizes that because most scholarships require applicants to be graduating seniors, they were potentially missing an opportunity to assist deserving students who have decided to go back to school,” the release reads. “These students deserve support in their efforts to enrich their lives, too.”

Prospective applicants can obtain an application by visiting Foundation for the Carolinas Web site at www.fftc.org, or the Guidance Counselor’s Office at Richmond Senior High School.

Staff Writer Philip D. Brown can be reached at (910) 997-3111 ext. 32, or by e-mail at pbrown@yourdailyjournal.com.