Development
Texas Tech University Offers Chancellor's Council Scholarships
The Texas Tech University Chancellor�s Council is unveiling a new scholarship program that will pair donor gifts of at least $5,000 with matching funds from the university system.
A committee selected by the Chancellor�s Council Advisory Committee will choose scholarship recipients based on university and community service and individual parameters set by the donor. Texas Tech will host events to match the donor with the scholarship recipient.
Scholarships may be designated for a particular college or program and may be named. So far, half of the 20 available endowments have been spoken for.
Texas Tech Chancellor Dr. David Smith said the program will benefit college-bound students across the state.
�These endowed scholarships will provide an excellent opportunity for Texans to get a quality college education,� Smith says. �We thank the donors in advance for their investment in education.�
While donors may contribute as much as they wish to the scholarship, the university�s contribution remains fixed at $5,000. Contributions are 100 percent tax-deductible and may be increased at any time. The scholarships will be awarded annually from the accumulated interest in the endowment, beginning in the fall semester of 2006.
Stan Weaver, chair of the Chancellor�s Council Advisory Board, says one of the council�s goals is to increase the amount of funding it provides to scholarships.
�We are most grateful to Chancellor Smith and his administration for the provision of matching funds,� Weaver says. �One of this year's goals for the Chancellor's Council is to increase the amount of, and the portion of, Chancellor's Council funds that are utilized directly for student scholarships. The Chancellor's Council Endowed Scholarships will certainly help us meet that goal. I can think of no better return on investment.�
Donors will be able to set specific qualifications for scholarship recipients.