Each year, Family Ark awards scholarships to students who are current or previous clients of the agency at any point since its founding in 1973.  Since 2003, the Virginia Walker Scholarship Fund, established in memory of Virginia Walker, an agency foster parent.

The recipients are selected based on various criteria, which may include an interview, letters of recommendation, financial need, academic record, and extracurricular and community activities.  Scholarship awards may range from $500 to $5000, and may be used only for tuition, fees, books, and room/board.  The Board of Directors determines the number and amount of each scholarship awarded annually.  Applications are available in early spring each year.