Trustee Matching Scholarship

Who are the recipients and how are they chosen?

For Trustee Scholars, receiving scholarship support can often make the difference between affording an education and giving up on their dreams.

• All are from low-income households (according to federal criteria), and over half are the first generation in their family to attend college. They are also among the University's hardest-working students: last year, their median G.P.A. was 3.27.
• Recipients are chosen from a pool of qualified recipients, based on an analysis of the Free Application for Federal Student Aid. The Office of Student Aid works with the colleges and campuses to maximize and coordinate all Trustee Matching Scholarship funds with other aid available to students.

What type of gift qualifies for the Trustee Matching Scholarship Program?

A minimum outright gift of $50,000, payable in cash or securities pledged over five years, qualifies for the Trustee Matching Scholarship Program. Deferred or planned gifts such as charitable remainder trusts or simple bequests do not qualify for inclusion in this program because they may not provide the kind of near-term support that is needed. You can also give a gift of any amount to the General Trustee Matching Scholarship Fund.

How does the matching program work?

Once a donor completes a pledge form and signs scholarship guidelines, approximately five percent of the pledged amount will be moved from University funds into the spending account of the named endowment and will be available for distribution to students. When the endowment is fully funded, the match will be combined with available spending from the donor's endowment when making the awards. Endowment spending is approximately five percent of the endowment's average market value over the last three years.

Will I have the opportunity to name the scholarship?

Yes. Donors will have the opportunity to personalize the name of their scholarship; however, all scholarships will have Trustee Scholarship at the end of the name. Example: Harriet and Henry Brown Trustee Scholarship.

I currently have an endowment at Penn State. May I change my current endowment to a Trustee Matching Scholarship?

No. An existing scholarship cannot be added to or changed to qualify for the matching program. However, a new endowment can be created with a new pledge of $50,000 or more.

What is the minimum eligible gift that will qualify for the Trustee Program? Maximum?

A $50,000 gift paid over five years or less is the minimum gift eligible for this program. Although there is no maximum gift restriction, the University reserves the option to cap the maximum amount matched on any single gift so that no single gift depletes all available matching monies.

Must I pay my pledge in full before the University matching money becomes available?

No. One of the most attractive features of this program is that the matching funds will be available for spending very soon after confirmation of the pledge and guidelines and will be awarded in the name of the donor's endowment.

How long will this program be available?

Gifts or pledges will be accepted for the Trustee Matching Scholarship Program as long as institutional funds are available and remain dedicated to this program.

As the market value of my Trustee Matching Scholarship gift increases, will the University match increase?

No. The University match will be calculated based on five percent of the original gift amount and will not increase as the market value of the endowment increases. However, if a donor increases his or her Trustee Matching Scholarship endowment, he or she may have those additional funds matched as long as institutional funds remain available for this program.

May I designate my gift in any way?

Yes, gifts can be designated to any campus or college. Donors can also specify a major field of study or a specific geographic description as a first preference. However, unrestricted scholarship funds provide the University with the greatest flexibility in most directly meeting the financial needs of our students. University matching funds will follow the donor's designation as specified in the guidelines.

What will the value of the awards be?

The Office of Student Aid will provide guidance annually on minimum and maximum award values. Consideration will be given to University costs and other aid resources available when determining those values. It is anticipated that individual awards will range from $1250 to 25 percent of in-state tuition.