|“What Harry Gallatin gave us was the knowledge that hard work and determination will pay off. We realized the importance of that hard work. That lesson has carried over into our everyday lives.” |
-Bob Biarkis, SIUE Golf Team alumnus, on why the golf team alumni created the Harry Gallatin Scholarship Endowment
Creating a New Scholarship
When creating a new scholarship, donors have many decisions to make. Scholarships may provide assistance up to the total educational costs (tuition and fees and certain living expenses as defined by the Federal Government) for attending SIUE. These accounts may be established as endowed or non-endowed accounts and may be awarded on the basis of merit or financial need. In accordance with University policy, the Foundation notifies the Student Financial Aid Office of all scholarships received by students through the Foundation.
Merit-based scholarships are awarded based on criteria established by the donor. Criteria may include such items as academic standing, community service, leadership qualities or exceptional talent. Examples of merit-based scholarships are:
- Chancellor’s and Presidential Scholarships: These are awarded to entering freshmen who have displayed top academic skills and talents. These four-year scholarships also offer other benefits to the recipients, such as special honors classes and a faculty mentoring program.
- Donor-Specified Scholarships: A donor may designate specific criteria to establish a merit-based scholarship. The criteria may include such variables as major field of study, academic standing, community service, etc.
- Need-Based Scholarships: These scholarships are based on the student’s financial need and are awarded in coordination with the Student Financial Aid Office. The criteria for need-based scholarships may also include other requirements such as academic standing, major field of study or graduation from a specific high school.
- Endowed Scholarships: Endowed scholarships require a minimum endowment level of $15,000 which will provide support to help with tuition, fees and/or education costs. To provide more substantial support for tuition or tuition and fees requires an endowment level of at least $125,000. Endowments may be created for any amount above the $15,000 and may go beyond $125,000 if the goal is to provide more support or to provide support for more than one student. The endowment minimum for a Chancellor's Scholarship or Presidential Scholarship is $125,000.
- Non-Endowed Scholarships: These scholarships require a gift that will ensure that the scholarship may be awarded for at least two years. In subsequent years, the scholarship cannot be awarded without a pledge or gift from the donor that will cover the amount of the scholarship for that year. Special arrangements may be made for one-time or irregular scholarship gifts.
What should be considered?
When establishing the criteria for scholarships and grants, the following questions should be considered:
- Is the scholarship or grant based on academic merit or based on the financial need of the student?
- What, if any, are the academic standards required for this scholarship or grant?
- Is the scholarship or grant restricted to applicants from specific high schools?
- Is the scholarship or grant open to all students, including graduate students, or is it limited to undergraduates, or even more specifically, to a certain class or type of student, such as an incoming freshman or transfer student?
- Is the scholarship or grant restricted to applicants from a specific program, department, School or College within the University?
- Is the scholarship or grant limited to a certain number of course hours per semester?
To address the potential situation where a scholarship or grant may no longer be awarded as specified, the stipulation (the document that details how the scholarship will be awarded) will include a statement giving the Foundation’s Board of Directors the ability to adapt or change the stipulation as necessary in order that an award may be made. Examples of such situations would include, but are not limited to: a program being dropped from the curriculum, a change in the tuition and fee structures, or a restrictive limit on the amount that may be awarded when additional funds are actually available to be awarded.
Whom should I contact?
To explore the possibility of creating a new scholarship, please contact:
Pat Mesnard at firstname.lastname@example.org or 618-650-2973;
or the Director of Development in the area in which you are interested.