The guiding principles of the State Fair Scholarship Program are to promote educational programs that incorporate high ethical standards, integrity and consistent educational growth and achievement. This must be used by the applicant's 24th birthday. Criteria may vary by award, but for many of them, applicants must have participated in the State Fair of Virginia competitions. The top 5 applicants will be awarded one of the following: the Gatewood Holland Stoneman Scholarship, the Farm Credit Scholarship, or one of the three Youth Development Scholarships.
Since 2013, the State Fair of Virginia Scholarship Program has awarded $732,570 via 2,069 individual scholarships. Scholarship winners may use their scholarship earnings to attend any accredited post-secondary educational institution. Scholarship categories include: earned scholarships won in State Fair competitions & Sale of Champions; and applied scholarships won through an application process.