Named Scholarship Policy

Policy:  

• The minimum amount to establish a named endowed scholarship is $30,000. 
• The minimum amount to establish a named current-use scholarship is $25,000. This can be established as a pledge of $5,000 per year for 5 years and is active until funding is expended. 
• Gifts under the threshold for individual naming are welcomed as directed additions to established PNWU scholarship funds either current-use or endowed. 

Definitions:  
Current-use gifts have an immediate impact. The funds donated are available to be expended right away to benefit students at Pacific Northwest University of Health Sciences. 

Endowed gifts support the university over the long term. These gifts create permanent funds where the principal of the gift is invested to generate earnings that strengthen PNWU for generations to come. 

Procedure:  

1. The Development Office and donor work out funding and criteria.  Criteria should be limited to data that is collected from the student on the admission, financial aid and a scholarship application. 
2. The Controller/Finance Office holds (current-use) or invests (endowment) funds in accordance with the Investment Policy and notifies the University Scholarship Committee of the amount available for scholarship award(s) annually 
3. The University Scholarship Committee posts and advertises the scholarship application process with the award amounts and criteria and encourages student applicants.  
4. The University Scholarship Committee meets to evaluate and select scholarship recipients. Financial Aid authorizes the disbursement and adjusts the student’s other aid as necessary. 
5. The Controller disburses scholarship funds to the student’s University account based on the disbursement schedule. 
6. Students are notified of the awards and submit a thank you for the donors to the development office. 
7. The Development Office communicates the student selected to the donors and coordinates a scholarship celebration event. 

Related Documents: 
Investment Policy 
Private scholarship policy 

Policy Resources

• Policy Development and Approval Training
• Establishing and Creating University Policies and Procedures (Policy)
• Policy Development & Approval Procedure
• Policy Development & Approval Diagram
• Policy Justification Form
• Policy Template (password protected)
• Procedure Resources (password protected)
• PNWU Alumni Association Bylaws
• COM Bylaws
• PNWU Bylaws

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For assistance with policies and procedures contact:

Lori Fulton
lfulton@pnwu.edu