An endowed scholarship enables a donor to establish a permanent source of financial assistance, under the OSU Foundation Endowment Guidelines. The process begins with the signing of a pledge form that addresses the details of the financial commitment and how it will be fulfilled. It is important to note that the total pledge does not have to be paid upfront. It can be spread out over 5 years, if you need flexibility. When contemplating an amount to pledge, you may want to look at the cost of tuition & fees, room & board, and books and supplies, to guide your thoughts. Keep in mind that the endowment spending policy assumes a distribution of 4.25%/yr., based on a minimum donation of $25,000. The next step in the process is to sign an endowment agreement. This document allows the donor to specify how the fund is to be used, such as, if you want to earmark your scholarship for a specific need or stipulate certain qualification criteria. We found the person at the OSU Foundation to be very helpful in assisting us along the way, which made it a wonderful experience.
For us, the reward for making this kind of financial commitment came when we learned of the recipient of our scholarship. This not only personalized our commitment, but allowed us the opportunity to monitor the student's progress. We recently received a thank you letter from our scholarship recipient, which we felt compelled to share, that reinforces our motivation for participating and makes our contribution so worthwhile.
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Dear Donor,
Thank you very much for the opportunities you have provided me. Your support is both encouraging and inspiring. I remember the first time I stepped onto the Oklahoma State University campus two years ago; the Georgian architecture, the Edmon Low Library, and the open atmosphere of the grounds instantly drew me in.
I am constantly reminded that if it weren't for the generosity of others, I would not be able to graduate college debt-free. I have been working hard throughout my academic life and it is rewarding to be recognized for my dedication and persistence. I am maintaining a 4.0 GPA, working as a Digital Services Assistant in the Edmon Low Library, and acting as the vice president of the Institute of Industrial and Systems Engineers.
I'm halfway through my bachelor's degree and I can feel the momentum building. I enjoyed our CEAT Scholar trip to Washington, D.C., this past summer and can't wait to travel outside of the United States next year. These are experiences I will cherish and remember for years to come. I will continue to send my thanks throughout my junior and senior years and keep you posted.
Best Regards,
Zechariah Schrum
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With the decline in state funding for higher education, the need for scholarship money has grown. The OSU endowed scholarship program not only provides a way to give back to your alma mater, but makes a real difference in the lives of these students and their families as they pursue their dreams of a higher education. We hope this article provides some insight on how the endowed scholarship process works and inspires you to support this important program.
Sincerely,
Kent Powers
1976 IEM Graduate
