University Advancement
Establishing Scholarships
Tennessee Tech prides itself on having the best educational return on investment in Tennessee. We strive to increase the size and effectiveness of our scholarship endowments to ensure that students can achieve their goals and and are prepared for successful careers and culturally enriched lives. Love of education and lifelong learning often bring donors to creating or giving to scholarships.
Endowed Scholarships
Endowed scholarships may be established for a minimum of $25,000 payable over a period not to exceed five years. A letter of agreement that outlines the guidelines and criteria for administration of the scholarship is always required. An endowment is established in perpetuity such that the principal is never used. Individual endowments are managed and invested as part of a larger university pool of endowed funds. Scholarships are funded from investment earnings after the minimum endowment of $25,000 is established. Earnings distribution is based on the total value of the endowment on September 30th of each year. Unused earnings are returned to the principal so that it continues to grow.
Numerous endowed scholarships have been established by individuals, groups of individuals, corporations, faculty, or via a bequest or trust. These scholarships honor or memorialize loved ones; remember a favorite faculty member, department, program, school, or college; or may be totally unrestricted. Individuals other than the original donors may also contribute to established endowments.
Annual Scholarships
Annual scholarships may be established on a one-time or multi-year basis. We request that a pledge and/or a gift agreement be prepared so that the recipient college/school /department may plan accordingly if the donor intends to fund an annual scholarship over a number of years. Annual scholarships may range from a few hundred to several thousand dollars; however, a minimum of $1,000/year is required to name a scholarship. The donor may attach university-approved criteria to the awarding of the scholarship. Criteria may be related to academic performance, major, financial need, etc.; however, the university prefers less restrictive criteria. Annual scholarship gifts may be directed to a specific department, program, school, college, or even the university. Unrestricted scholarship gifts to any of these entities provide maximum flexibility for using the scholarship according to the greatest need such as financial aid, recruiting, or retention.
For further information pertaining to scholarship donations please contact the Assistant Vice President of Advancement. Information pertaining to scholarships for children of alumni may be found at Alumni Scholarships.
