How To Creating a New Scholarship

When creating a new scholarship, donors accept abounding decisions to make. Scholarships may accommodate abetment up to the absolute educational costs (tuition and fees and assertive active costs as authentic by the Federal Government) for accessory SIUE. These accounts may be accustomed as able or non-endowed accounts and may be awarded on the base of arete or banking need. 

In accordance with University policy, the Foundation notifies the Apprentice Banking Aid Office of all scholarships accustomed by acceptance through the Foundation. 

Merit-based scholarships are awarded based on belief accustomed by the donor. Belief may awning such items as bookish standing, association service, administration qualities or aberrant talent. 

 Examples of merit-based scholarships are: 

• Chancellor’s and Presidential Scholarships: These are awarded to entering freshmen who accept displayed top bookish abilities and talents. These four-year scholarships aswell action added allowances to the recipients, such as appropriate ceremoniousness classes and a adroitness mentoring program.

• Donor-Specified Scholarships: A donor may baptize specific belief to authorize a merit-based scholarship. The belief may awning such variables as aloft acreage of study, bookish standing, association service, etc.

• Need-Based Scholarships: These scholarships are based on the student’s banking charge and are awarded in allocation with the Apprentice Banking Aid Office. The belief for need-based scholarships may aswell awning added requirements such as bookish standing, aloft acreage of abstraction or graduation from a specific top school.

• Able Scholarships: Able scholarships crave a minimum accolade akin of $15,000 which will accommodate abutment to advice with tuition, fees and/or apprenticeship costs. To accommodate added abundant abutment for charge or charge and fees requires an accolade akin of at atomic $125,000. Endowments may be created for any bulk aloft the $15,000 and may go above $125,000 if the ambition is to accommodate added abutment or to accommodate abutment for added than one student. The accolade minimum for a Chancellor's Scholarship or Presidential Scholarship is $125,000.

• Non-Endowed Scholarships: These scholarships crave a allowance that will ensure that the scholarship may be awarded for at atomic two years. In consecutive years, the scholarship cannot be awarded after a agreement or allowance from the donor that will awning the bulk of the scholarship for that year. Appropriate arrange may be fabricated for ancient or aberrant scholarship gifts. 

What should be considered? 

When establishing the belief for scholarships and grants, the afterward questions should be considered: 

1. Is the scholarship or admission based on bookish arete or based on the banking charge of the student?
2. What, if any, are the bookish standards appropriate for this scholarship or grant?
3. Is the scholarship or admission belted to applicants from specific top schools?
4. Is the scholarship or admission accessible to all students, including alum students, or is it bound to undergraduates, or even added specifically, to a assertive chic or blazon of student, such as an admission apprentice or alteration student?
5. Is the scholarship or admission belted to applicants from a specific program, department, Academy or College aural the University?
6. Is the scholarship or admission bound to a assertive bulk of advance hours per semester?

To abode the abeyant bearings area a scholarship or admission may no best be awarded as specified, the agreement (the certificate that data how the scholarship will be awarded) will awning a account giving the Foundation’s Board of Directors the adeptness to acclimate or change the agreement as all-important in adjustment that an accolade may be made. Examples of such situations would include, but are not bound to: a affairs getting alone from the curriculum, a change in the charge and fee structures, or a akin absolute on the bulk that may be awarded if added funds are in fact accessible to be awarded. 

Source : http://www.siue.edu/give/scholarships/newscholarship.shtml