Scholarship Discussion

  1. Types of Scholarships

    1. One-time scholarships - Funds handled through University Advancement and Financial Aid, normally Banner FOAP not established.
    2. Annual Scholarships - Funds handled through the department or financial aid. Money is received each year to fund one or more scholarships awarded to Banner FOAP established and maintained.
    3. Endowed Scholarship - Funds handled through the department or financial aid. Funding comes from Endowment accounts held by Ferris Foundation. Banner FOAP established and maintained.

  2. Determining the Award Amount & How Much You Can Award

Each year, endowed scholarships are awarded earnings that can be spent. The awarded earnings is added to any existing balances to determine total funds that can be awarded. As the year progresses, departments must review the scholarship account to determine if the endowment earnings transfer has been made (transfer amount included in the current balance) and if any outstanding awards have been made. Endowment letters are sent to the Dean each spring indicating endowment award amounts available for transfer after the start of the fiscal year (7/1/XX).

  1. Resources for Help

 

Department Contact Person Phone Number
University Advancement & Marketing Monika Repke 591-3849
Investments & Grants Office Karen Thompson 591-2157
Financial Aid Office Laurie Kilbourne 591-2122