Scholarships allow our alumni and benefactors to give Friends University students an opportunity to succeed at the University and beyond.
When an endowed scholarship is established, the gift is set aside as principle to be invested in perpetuity. Only the income from the principle can be awarded as a scholarship. Currently, Friends University's endowed funds are awarded at a 5 percent level. Earnings exceeding the 5 percent level will be put back into the endowed scholarship to allow for continued growth. A minimum of $5,000 is necessary to establish an endowed scholarship. Once the scholarship is established, additional gifts of any size may be added.
Endowed scholarships may be funded in many ways: cash, securities, gifts-by-will, life income gifts, life insurance or gifts of real estate.
For an individual, an endowed scholarship is a lasting tribute in honor or in memory of loved ones, or they can leave a legacy that will enrich the lives of Friends' students for generations to come. For organizations, it is an opportunity to provide perpetual scholarship support for students attending Friends University.
Current scholarships are established as a short-term, renewable gift and will cease to exist when the donor discontinues support or gifts to the scholarship. The entire scholarship is awarded to a student(s) on a semester-by-semester basis. There is no minimum for a current scholarship.
Many scholarships are established unrestricted, allowing the University the greatest flexibility in designating the awards to students with the greatest financial need and academic merit.
Criteria for both the endowed and current scholarships are specified by the donor. Examples of criteria for a scholarship are grade point average, area of study, extracurricular activities, classification or specified geographic region. Often, donors indicate that they desire the scholarship be awarded above the institutional maximum as set by the University.
A donation to an endowed or current scholarship receives a charitable gift receipt.
For more information about endowed or current scholarships, contact Joan Tregellas by email at email@example.com.
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