The Dolphin Scholarship Foundation awards college scholarships to the children of Submariners and submarine support personnel; as of last year, there were 137 Dolphin Scholars, each receiving $3,250 per year. The application for current high school seniors for next year just came out; it's something any Submariner with a student going into college next year should get their kids to apply for. Of the 35 new Scholars last year, it looks like three of them are children of old shipmates of mine, so I know that real people are getting these awards.
My sons will be applying starting next year, so after this year I won't be as impartial in hoping everyone wins. For now, though, good luck to everyone!