IV.P. BSC Scholarship Program

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Revision as of 18:39, 5 June 2015 by WikiSysop (talk | contribs) (Board approved 5/7/15.)
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1. The Scholarship Fund

a. The BSC maintains a Scholarship Fund created by donations from alumni and foundations specifically for scholarships and contributions from the annual BSC budgeting process. The BSC solicits donations to the Scholarship Fund for the specific purpose of providing support to low-income members in paying a portion of their BSC housing cost. The Scholarship Fund is dedicated to this purpose, and neither its principal nor its earnings are available to meet the operating or capital improvement needs of the BSC.

2. Scholarship Program Funding

a. The amount of funds available the scholarship program will be determined on an annual basis, using the following formula: Four percent of the three-year average of the overall value of the Scholarship Fund (calculated at the end of the fiscal year) plus any funds budgeted by the BSC during the annual budgeting process.
b. CFCom and the BSC Board should consider estimated figures for scholarship programing during each budgeting cycle to determine the amount of funds that should be allocated during BSC budgeting process, based on the members’ goals for scholarship availability.

3. Scholarship Applications

a. Current and prospective members may apply for scholarships at any time.
b. Scholarship applications shall be available on the BSC website and advertised frequently to ensure access to the program.

4. Awarding of Scholarships

a. All scholarship applications shall be reviewed once per year after Fall/Spring contract offers are sent, but prior to the Fall cancellation deadline. Such review will be coordinated under the direction of the Development Director and Executive Director.
b. All scholarships shall be awarded based on documented need, taking into consideration other criteria set forth by donors.
c. The amount of each scholarship shall be ½ of the member’s first Fall payment plus ½ of the member’s first Spring payment.
d. Recipients will be notified that they have been awarded a scholarship and the specific dollar amount, prior to the Fall cancellation deadline.

5. Scholarship Distribution

a. Half of the scholarship award will be credited to member’s accounts in Fall, and the other half in Spring.
b. Members living in the BSC only for one term will only receive one half of the annual/total scholarship amount.

6. Support and Leadership Opportunities

a.ETCom will research and offer optional support and leadership development opportunities to scholarship recipients to aid them in becoming more involved and assuming leadership positions in the BSC community.


[Board approved 5/7/15.]