Jean Ann Dargatz,
Administrative aide, MCN

My husband and I are employees and graduates of Illinois State University. We have donated to several funds, including the College of Education and the Dorothy E. Lee Scholarship. Most recently we have been donating to Mennonite College of Nursing. In light of a national nursing shortage, we have chosen to donate to Mennonite as a way to support quality nursing care.

Scholarships

Scholarships change lives. Donors who invest in scholarships support one of the most important functions of the Illinois State University Foundation. While ISU is affordable, many deserving students would not be able to attend the University without the help of private scholarships. Additionally, merit-based scholarships allow the University to attract and retain high-achieving students. Creating a scholarship at ISU requires just four easy steps.

Determine the level of support you wish to provide

In 2008-2009, tuition and fees for a full-time undergraduate student are $20,000.
Annual scholarships for nursing are recommended at a minimum of $1000 and are funded on a year-by-year basis by the donor(s). The Foundation suggests donors make a five-year commitment when establishing a new annual scholarship.
Endowed scholarships are self-sustaining. The initial gift is invested, and the scholarship awards are determined each year by the Foundation's Endowed Funds Policy. The minimum investment for an endowed scholarship is $20,000, which will initially provide a typical award of $700. As earnings are reinvested in the endowment, this amount will grow over time.

Determine the focus of your scholarship

A Development officer will assist you in designing the scholarship criteria. Criteria might include a specific major or college, academic standing or financial need.
The scholarship can be named in honor or memory of an individual or organization.

Sign a scholarship agreement with the Illinois State University Foundation.

The Foundation will record information on why the scholarship was established, who it is named for and the type of student the scholarship benefits.

Make your gift

Scholarships can be established by an individual or a group.
Scholarships can be funded in many ways, including cash, stocks and bequests.
Donors may build an endowment over a period of time - up to five (5) years

Determining Scholarship Criteria

Some of the questions you'll need to consider in regard to scholarship criteria are:

Course of study: Will the scholarship focus on students in a specific major or college?
Academic standing: What is the minimum GPA a student must maintain to be eligible for the scholarship?
Enrollment status: Will the scholarship be for students enrolled full-time, part-time, or both?
Financial status: Will financial need be a concern in determining eligibility?