BBFAA, Inc. annually provides high school seniors and college students the opportunity to compete for two different scholarships: The Philippine Scholarship and the U.S. Educational Grant

The Philippine Scholarship is for students, within the Philippines, who have demonstrated academic excellence and are in financial need.

The U.S. Educational Grant is for Leon County high school seniors and college students, who participate in an annual essay contest. This essay contest begins in February of each year and is awarded to those students who write the best essay response, regardless of ethnicity.