- Naming Opportunities
2015 Scholarship Campaign
Each year, the Foundation awards financial assistance to increased numbers of students. Thanks to the unflagging generosity of many donors, the Foundation has awarded more than $3 million in scholarships to date, helping more than 4,000 students advance their education.
Gifts to the 2015 Scholarship Campaign will help defray tuition and fees for students in need through the 2015-2016 academic year.
Establishing a Scholarship
Donors may establish a scholarship in two ways:
- Annual scholarships: initiated by direct gifts of the exact amount needed for an award to student scholars. A one-time contribution can be awarded as an annual scholarship to a student or students. The scholarship may be renewed with an annual gift from a donor.
- Endowed scholarships: provide funds for the scholarship in perpetuity and require a minimum amount of $10,000 to establish and to activate.
Scholarships are known by a name designated by the donor. For a complete list of current awards, visit the Foundation and Institutional Scholarships page.
Endowing a Scholarship
The Educational Foundation administers a scholarship endowment fund according to the following provisions:
- When the corpus, or principal, of the endowment reaches the specified amount or more, the endowment will be activated, and the selection of awards will begin. Prior to activation of the scholarship, all annual interest and earnings from the investment of the fund will be returned to the corpus to help achieve the activation goal.
- If for any reason the endowment fund does not reach at least the agreed goal within a three year period, the Foundation may choose either to extend the preactivation period or to implement individual scholarship awards.
- Endowment spending objectives satisfy needs for sufficient funds for scholarships and other grant efforts; preserve the principal against inflation; and provide a predictable and growing stream of income.
The Foundation has adopted an allocation of five percent of a three-year moving market value of each endowment. This policy enables the Foundation to provide greater support and protect the economic value of each endowment.
Investment of the corpus of each endowment shall be handled in accordance with Foundation investment policies, with the goal of achieving maximum earnings for each fund. Written records of the performance of each endowment are kept in the Foundation Office.
Scholarship Selection and Recognition
The Oakton Scholarship Committee – comprising of employees, donors, and alumni – meets every spring to review applications and select the scholarship winners. The selection process is based on applicants meetings all eligibility requirements along with a committee evaluation of students’ personal essays. The Office of Student Financial Assistance distributes the funds in the fall and spring semesters, provided students have met the eligibility requirements.
During the fall semester, the Foundation hosts a Scholarship Banquet where donors and scholarship recipients have an opportunity to meet.
For more information about establishing a scholarship, contact the Educational Foundation at 847.635.1893 or email@example.com.