Scholarship Support


 

Establishing a scholarship to support students at Southwest Minnesota State University is one of the most fruitful investments one can make. An investment in scholarships not only provides opportunities for deserving students, but enhances the quality of our student body and enriches our communities. Click here to view a complete listing of SMSU Foundation Scholarships.

There are two types of scholarships that can be established within the SMSU Foundation, annual scholarships and endowed scholarships. 


 
Annual Scholarships
  • Annual scholarships are funded by donor contributions on a yearly basis to provide scholarship support.
  • An annual scholarship may be named and the criteria may be established by the donor.
  • A minimum annual contribution of $500 is required.Annual scholarship funds earn no interest, as every effort is made to award the entire amount to the student.
  • A Scholarship Account Contract will be signed that details the scholarship criteria agreed upon between the Foundation and the Donor.
  • Scholarships are awarded in March and April for the following school year, so it is requested that the funds arrive at the SMSU Foundation, no later than March 1.  We request a written statement if the donors choose to discontinue the scholarship.

 
Endowed Scholarships
  • Gifts totaling a minimum of $15,000 are required to establish an endowed scholarship fund.
  • Scholarships are awarded from the endowment in accordance with the spending policy adopted by the Foundation. Currently, the annual amount disbursed is 4% of the three-year average market value of the endowed fund.
  • Gifts totaling less than $15,000 may be classified as a limited term endowment.  Additional contributions will be applied to the corpus until the fund reaches the $15,000 minimum endowment level. No awards are made from limited endowment fund until the balance reaches a minimum of $15,000.
  • An endowed scholarship may be named and the criteria may be established by the donor.
  • A Scholarship Account Contract will be signed that details the scholarship criteria agreed upon between the Foundation and the Donor.
  • All gifts to an endowment shall be irrevocable, unless otherwise approved by the Foundation Board of Directors.

 
Presidential Scholarships

Presidential Scholarships are the premier scholarships that SMSU has to offer and are used to attract some of the very best students to the University.  These students are being recruited by many institutions and presidential scholarships allow us to compete at a high level for these top academic students. 

  • The recommended minimum amount needed to endow a Presidential Scholarship is $125,000.
  • Recipients of this award currently receive a minimum award of $5,000 annually.
  • To be eligible students must achieve an ACT score of 27 or higher or a minimum of a 3.7 gpa.  Creative talent is considered in the selection and the rewards are renewable each year of undergraduate study. Students must maintain a cumulative gpa of 3.2 to remain eligible.
  • The scholarship may be named according to the wishes of the donor.
  • A Scholarship Account Contract will be signed that details the scholarship criteria agreed upon between the Foundation and the Donor.
  • All gifts to an endowment shall be irrevocable, unless otherwise approved by the Foundation Board of Directors.

 
Establish a Scholarship Fund

Establishing a scholarship is a very easy and rewarding experience.  It is an opportunity to leave your legacy for future generations or honor the legacy of someone else while sharing the Southwest experience.  Your scholarship gifts will make a lasting impact at Southwest Minnesota State University and insure that the academic and social qualities that Southwest so richly provides is shared with future SMSU students.  


 
To establish a scholarship, contact:

Bill Mulso, Foundation Executive Director
SMSU Foundation | 1501 State St. Marshall, MN 56258
Phone: 507-537-6266 | E-mail: Foundation@SMSU.edu