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Backpack Scholarship Terms and Conditions

By applying for a Scholarship, you agree to be bound by these Backpack Scholarship Terms and Conditions (the “Terms”), and you understand that any violation of these Terms shall result in your disqualification from the Scholarship. If you do not agree to these Terms, you may not apply for, nor accept, a scholarship.

Backpack Payment Technologies, Inc. (”Backpack”) is the sole administrator of the Backpack Scholarship (the “Scholarship”) and these Terms. By applying for the Scholarship, you are also accepting Backpack’s Terms of Service and Privacy Policy. Backpack reserves the right to amend or discontinue the Scholarship and these Terms at any time in its sole discretion. Applicants to the Scholarship must be over 18 years of age.

1. GENERAL CONDITIONS

General Terms. Scholarship recipients, by acceptance of their award, agree to release Backpack, its employees, representatives, agents, contractors, assigns, advertisers, officers, directors, and shareholders from any and all liability, loss, damage, cost, claim arising out of their participation in the Scholarship. Backpack reserves the right to modify or terminate the Scholarship at any time for any reason in its sole discretion, with or without notice. The Scholarship recipient is solely responsible for any state or federal tax liability in association with acceptance of the Scholarship. If any provision of the Terms of the Scholarship shall be held void, voidable, or unenforceable, the remaining provisions shall remain in full force and effect. Backpack is not affiliated with, sponsored by, or endorsed by any academic institution.

Eligibility. You may apply for a chance to win the Scholarship only if you meet the eligibility requirements set forth on the front page of the Scholarship application. Scholarships are non-transferable and must be accepted as awarded and will not be paid to academic institutions outside of the United States. Without limiting the foregoing, you may not be an officer, director, member or employee of Backpack or any other party associated with the development or administration of the scholarship, or an immediate family member (i.e., parents, children, siblings or spouse) of any of the foregoing, or a person living in the household of any of these individuals, whether or not related. Further, Backpack reserves the right to disqualify any applicant from the Scholarship in its sole discretion at any time.

2. PROCESS

Application. No purchase or payment is necessary to apply for Scholarship. Applicants must meet the Scholarship’s eligibility requirements, submit a complete application by the application deadline, and agree to be bound by these Terms. Backpack expressly reserves the right to disqualify any applicant and/or applications that are inaccurate, incomplete, or that Backpack believes in good faith to be generated by an automated means or scripts or are the result of plagiarism.

Selection. Accepted Scholarship applications will be reviewed by representatives of Backpack to determine the recipient. All decisions regarding the scholarship, including without limitation the selection of the recipient, shall be final and binding in all respects. Backpack reserves the right not to award a Scholarship if, in its sole discretion, it does not receive any qualified applications.

Notification. Scholarship recipients will be notified via the contact information provided to Backpack on the application form.

Verification. Scholarship recipients may be subject to verification of eligibility and must be, at all times, in compliance with these Terms. Although information that you provide may be verified, Backpack is not under any obligation to verify any of the information that you provide, and you hereby warrant that all information that you provide in your application and otherwise in connection with the Scholarship is complete and accurate. If an award notification is returned as undeliverable or a potential recipient does not supply the required verification within the time specified, the award will be forfeited and may be awarded to an alternate recipient at Backpack’s sole discretion.

3. USES

The Scholarship recipient may choose from one of our two methods of delivery:

Tuition. The scholarship may be paid directly to the accredited education institution noted on the Scholarship application. Backpack will make payment to the education institution after receiving proof of enrollment. The receipient will be responsible for introducing Backpack to the correct contact at the education institution for payment.

Non-tuition. The scholarship may be paid into a Backpack 529 Spending Account. The recipient will be subject to Backpack’s onboarding and KYC requirements and must satisfy those criteria. The recipient must use the Scholarship funds to pay for or purchase student housing, books, equipment or supplies required as part of their course enrollment. The funds can not be transferred out of the Backpack 529 Spending Account to another bank account of the recipient for use.