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Items to Consider when Establishing a Scholarship Fund

Following are items to consider before drafting the content of the Scholarship Criteria Agreement document:

  • Name of the Scholarship Fund (in honor or memory of someone)
  • Biographical information about the donor and person(s) for whom the scholarship fund is to be named
  • Dollar value of the scholarship and how and when the donor plans to fund the scholarship account (single gift payment, multiple gift payments, planned gift, and total amount from each method of giving)
  • Student level: freshman, sophomore, junior, senior, graduateScholarships2
  • Areas of study: what academic majors qualify
  • Academic indicators:  high school class rank of top 10-20%; high school GPA; SAT score (traditionally 1100 or higher).  Traditionally, upper-division students should have a  QPA of 3.0 or higher.
  • Financial need: demonstration of financial need and what criteria would apply
  • Geographic preference, if any
  • Length of the scholarship for any given student (1-yr, 2-yr, 4-yr)
  • Required GPA to retain the scholarship (traditionally, a minimum of 3.0)
  • Campus involvement:  whether the student should be a member of a  particular SU organization or athletic team
  • Special or additional selection criteria that the donor would like to use
  • Time frame for first draft to be ready
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