In order to properly award financial aid, fund holders should be familiar with the selection criteria for awarding scholarships as stated in the restrictions of the scholarship agreement. If a copy of the documentation for the scholarship or award is needed, it can be obtained by contacting the University Office of Scholarships and Financial Aid (OSFA) at 231-5179.
Scholarships from funds not earning endowment income are paid only when the cash balance of the fund is sufficient to cover the payment. Scholarships that are to be paid from funds earning endowment income may be paid if there will be sufficient income earned in the current fiscal year to cover the payment. Scholarship and award payments cannot be made directly to an individual student from the foundation. Before scholarship payments are processed, there must be a VTF Scholarship Award Letter on file with the OSFA. The VTF Scholarship Award Letter includes a certification by the fund holder that the recipient of the award fully meets the scholarship´s stated criteria.
Award letters for fall semester should be delivered to the Office of Scholarship and Financial Aid by July 1, in order to be properly credited to the student´s account. For spring semester the award letters should be delivered to the Office of Scholarship and Financial Aid by December 1.
If the semester terms are not stated in the letter, the OSFA will assume the scholarship is for both fall and spring semesters and will split the scholarship equally between the two semesters.
The award will not be applied to a student´s account unless the authorized user of the foundation fund signs the letter and cash is available to cover the award. The authorized user´s signature certifies that the selection criteria established for the award have been considered and that the recipient student(s) meets all selection criteria.
Graduation awards should also be processed on the VTF Scholarship Award Letter Form. Any excess funds will be directly deposited to the student´s account unless otherwise specified.
Please note that a separate form is not required by OSFA to award any SCHEV Matching Funds. OSFA has the ability to determine if the fund is SCHEV Matching.
The original Scholarship Award Letter should be sent to the Office of Scholarships and Financial Aid located at 200 Student Services Building, Mail Code 0222. A copy of the award letter should be sent to Student Accounts for stipends only. Copies for foundation accounting are no longer needed.
Award Letter Forms can be downloaded or obtained by contacting OSFA. The Scholarship Form/Award Letter may be photocopied.
***Endowment fund numbers should never be referenced on a scholarship award letter or a request for payment. The corresponding income fund for the endowment is used to pay all expenditures and should be used when submitting both forms.