How to Establish an Endowed Scholarship at CSU Channel Islands
The establishment of an endowed scholarship is a wonderful and lasting way to assist CSU Channel Islands to attract and retain the best students, to recognize academic excellence and to provide financial aid for students who need it. Endowed scholarships also create an important legacy for the donors who create them.
A restricted gift of at least $25,000 is required to establish a scholarship endowment. The CSUCI Foundation manages all endowment funds. Endowment earnings are transferred by the Foundation to the respective scholarship account with the University for the purpose of funding the scholarships.
The CSUCI Foundation requires only a completed Scholarship Establishment Information sheet, along with the donated funds, to establish a named scholarship. This information sheet contains all the pertinent fund information; such as the name the donor wishes to give the endowed scholarship, contact information, and any scholarship criteria the donor wishes to set (see below.). The donor(s) can also indicate on this form if he/she/they wish any involvement with the scholarship recipients, once they have been chosen by the University's scholarship committee.
In general, in order to be eligible to receive a CSUCI scholarship, a student must:
- Achieve a minimum grade point average of 3.0,
- Maintain classification as a full-time student,
- Complete the scholarship application on time,
- Have intent to attend CSUCI the following academic year (award is forfeited if student withdraws),
- Demonstrate financial need on the FAFSA (Free Application for Federal Student Aid).
The University encourages unrestricted scholarships, as overly restrictive requirements tend to reduce the pool of qualified applicants. However, donors of endowed scholarships have the ability to set specific scholarship criteria beyond the general program criteria listed above, e.g. specific field of study, a different minimum grade point average, specific community of origin or residence, etc.
The scholarship awarding process runs annually, beginning in February when students can begin applying for scholarships, and ending in May with the award announcements and distribution of funds the following fall. All scholarships are awarded based on the application for scholarship assistance and other required documentation. The University Scholarship Committee, appointed by the University President, makes all selections. This committee includes representation from faculty, appropriate staff, administrators and the Foundation board of directors.
After recipients have been selected:
- Students are notified by the Financial Aid Office of the scholarship awards and amounts,
- The Financial Aid Office provides the donors with biographical information on selected recipients,
- The Financial Aid Office works with the Office of Administration and Finance to distribute the scholarships to the students.
Donors are invited and encouraged to meet "their" students at the annual scholarship reception in May.