The NWFMOA Scholarship Fund was established in 1981 for the purpose of recognizing outstanding JROTC students in the five Okaloosa County High Schools. The five schools are Baker, Choctawhatchee, Crestview, Fort Walton Beach and Niceville. Scholarship awards include certificates, MOA medals and ribbons, and monetary awards. The first recorded monetary award was $500.00 presented to a graduating Senior at Crestview High School. Since that time the program has evolved to include monetary awards to the top junior and senior JROTC students at all five schools. The top senior students who are going on to college ROTC programs then compete for an additional scholarship award, which is presented only after confirmation by the college registrar that the student is enrolled and participating in the college ROTC program. The top award is currently $3,000 half of which is provided during the student's freshman year and the other half during the sophomore year. (The student then receives a full government scholarship during his/her junior and senior college years, and a commission in one of the military services upon graduation.

Since its modest beginning the NWFMOA Scholarship Fund has provided over $80,000.00 in monetary awards, as well as the aforementioned certificates, medals and ribbons. The scholarship program is extremely popular with the students and their parents, and consistently produces most of the top students in each graduating class.