Each year, Family Ark awards scholarships to current or previous clients of the agency at any point since its founding in 1973. The applications are selected based on several criteria including an interview, letters of recommendations, financial need, academic record and extracurricular and community activities. Scholarships are a minimum of $500 and up to a maximum of $5,000. The Board of Directors determines the amount and the number of scholarships awarded each year, which may be used only for tuition, fees, books, and room/board. The Virginia Walker Memorial Scholarship Fund was established in memory of Virginia Walker, an agency foster parent. Since 2001, the fund has awarded more than $60,000 to students of varying ages.