Endowed Scholarships

Endowments are set up in three general categories: Unrestricted, Preferential, and Restricted. In making a Preferential or Restricted scholarship endowment gift to the College, donors are setting specific directions for its use. Such elements as academic major or interests or demographic characteristics of students may be stipulated by a donor for the use of the endowment income. Most of the newer endowments are established in the Preferential or Unrestricted categories.

Unrestricted Endowments

Income from unrestricted endowments is assigned at the discretion of the College to any student with demonstrated financial need. The Fund does not bear any additional prescribed criteria for its use.

Preferential Endowments

When there are no students enrolled who meet the criteria specified by the donor, a preferential endowment may be assigned to benefit any student with demonstrated financial need.

Restricted Endowments

Restricted endowments may only be used in the manner in which the donor has indicated in the deed of gift. When, in any particular year, there are no eligible students enrolled who meet the established criteria of a restricted endowment, the income cannot be spent in that year.