Ten potential Australian Olympians have the opportunity to give their preparations for the 2008 Beijing Games a financial boost with applications now open for the 2006 Greater Building Society Sport Scholarships.

Each athlete will receive $1,000 to assist with expenses they incur as they develop their sporting talents. They also benefit from the expertise and advice of the Hunter Academy of Sport's consultants in areas such as sports psychology, nutrition, physical fitness, injury prevention and treatment.

The scholarships are awarded annually to athletes who show tremendous potential in their chosen sport. They are managed by the Hunter Academy of Sport.

Greater Building Society general manager John Arnold says that the scholarships have been helping young athletes to realise their dream of representing their country in an Olympic Games for the past 14 years.

Previous recipients include 2004 Olympic medalists Mathew Helm and Ryan Rowland-Smith, as well as, five time silver medalist in the 2004 Paralympics and world record holder, Prue Watt.

Applications close September 29 and will be announced in November. Application forms are available from any Greater Building Society branch or from the Hunter Academy of Sport by calling 4926 4892.