Sigma Phi Epsilon Memorial Scholarship
TRI-STATE UNIVERSITY
Scholarship Fund Agreement
The Sigma Phi Epsilon Memorial Scholarship Fund
Name
The endowed fund will be known as the Sigma Phi Epsilon Memorial Scholarship Fund. The scholarship award is named in memory of Noah McLain, Jeff Haskins, Greg Bonardi, Dan McKinney, Robert Spicer, Mark Glore and William Toney who were members of Sigma Phi Epsilon Fraternity, of Tri-State University.
Purpose
The Fund will financially assist students who demonstrate community & campus leadership, academic merit and/or financial need as they earn their college degrees at the University.
Amount and Number
A total of 5% of the fund including interest, with an amount of no less than $250.00, will be awarded annually. The number and amounts of the awards will vary according to the fund balance annually. The award amount may be revised from time to time to reflect changes in tuition.
Perpetuation of the Award
The Fund shall be perpetuated by both outright and endowment gifts according to the discretion of the donor and/or the addition of interest earned.
Administration of the Awards
The awards provided by the Fund shall be administered by the Director of Financial Aid at the University in accordance with the University's policies, practices and regulations governing financial aid. The University recognizes that there could be changes in society for many reasons due to economic, cultural, political, educational or other causes, where the University might be better served by reallocating the remaining funds in this program to other university uses. Should this condition occur, the Board of Trustees, on the recommendation of the President shall be responsible for reallocating the funds for other University uses and informing the sponsoring activity of the decision.
Qualifications of the Recipients
The recipient(s) of the fund shall be an active Sigma Phi Epsilon member, have leadership abilities as demonstrated in the community, on campus and in the fraternity, which are customary for the brothers of Sigma Phi Epsilon while maintaining a minimum GPA of 2.5. They may declare any approved major and shall be sophomore, junior or senior status. The recipient(s) will not be on academic probation.
Selection of Recipients
The Director of Financial Aid will annually select students from among applicants who meet the qualifications for the scholarship based on their Leadership and Academic merit. If there are no applicants who meet the qualifications for the scholarship due to Sigma Phi Epsilon Fraternity being Combined with another Fraternity on campus, then the Title and Purpose of the scholarship will be maintained, but the award will be transferred to a student in the new fraternity. If there are no applicants who meet the qualifications for the scholarship due to Sigma Phi Epsilon Fraternity being on Probation or Discontinued Operation, then the scholarship is not to be awarded until the school year following the probation period or a maximum of 2 years. After 2 years, award will be made to a Tri-State student from among the financial aid applicants meeting the leadership and academic criteria if the local chapter operation has not resumed or until such time that the local chapter charter is resumed.
Responsibilities of Recipients
Students receiving scholarships will be required to make contact with the sponsoring family member at least once a year and offer a brief written report on their academic and leadership achievements. This will discontinue when no known family members exist.
This agreement may be amended by the parties during the lifetime of the donors or the survivors of them and is hereby entered into by the undersigned parties on this date.
Date: _____________
Donor: ________________________________________
Representative of TSU: ________________________
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