ScholarShare Investment Board

California Memorial Scholarship Program

The California Memorial Scholarship (CMS) Program was established to provide scholarships of up to $5,000 for dependents of California victims who died during the terrorist attacks on September 11, 2001. The program was funded through the sale of memorial license plates authorized by the California State Legislature.

Dependents, or the parents or guardians of minor dependents, were notified of their eligibility for the CMS by the California Victim Compensation and Government Claims Board. Eligible dependents interested in receiving scholarship funds must have contacted the ScholarShare Investment Board (SIB) and executed a participation agreement prior to the June 30, 2005 deadline set by the Legislature.

Scholarship Accounts

Under the administration of the SIB, scholarship funds were deposited on behalf of beneficiaries to accounts within the Golden State ScholarShare College Savings Trust (ScholarShare Trust). The scholarships must be used at eligible vocational, technical and trade schools, in addition to four-year colleges, universities, and two-year colleges, to pay for qualified higher education expenses by the beneficiary’s 30th birthday or July 1, 2015, whichever occurs later. The funds also may be used for graduate studies.

How to Use the Scholarship

Beneficiaries may request a CMS Qualified Withdrawal Form by calling (916) 651-6380 or emailing the request to scholarshare@treasurer.ca.gov. The beneficiary may disburse all or a portion of the scholarship funds and earnings to the eligible institution by submitting the completed form to SIB. A check will be mailed from the ScholarShare Trust directly to the institution.

Unused Funds

The scholarship and earnings are the property of the State of California until requested by the beneficiary to pay for qualified higher educational expenses. Any unused funds will be returned to the State after the beneficiary’s 30th birthday or after July 1, 2015, whichever occurs later.