West Virginia University and the WVU Foundation are announcing the creation of the Augusta Scholarship program to help deserving students attend the University.
Gifts made to the FoundationIn Memory Of(IMO) andIn Honor Of(IHO) individuals will be pooled to create the new endowed scholarship fund.
It is fitting for this scholarship program to be announced today (Feb. 7) in conjunction with WVU ’s birthday celebration,said D. Lyn Dotson, vice president for development at the Foundation.The primary mission of the University is the education of students. The Augusta Scholarship fund will help provide an opportunity for those in financial need to attend WVU and at the same time honor or memorialize an individual.
The name Augusta was selected for the scholarship because of its historic relationship with the state and county. Augusta was among the original names considered by the Legislature for the state. Also, the District of Augusta was the original name for a large area of what is now the northern region of West Virginia , including Monongalia County .
The scholarship is being created to fill a need through which family, friends and organizations can in a meaningful way honor or memorialize an individual who is an alum or has ties to the University,said Dotson, who authored the program.We require $25,000 to establish a named endowed scholarship, which provides an annual $1,000 award. Understandably most people do not have those kinds of funds. This program provides an appropriate alternative.
All IMO /IHO gifts will go directly to the Augusta Scholarship Fund unless otherwise designated by the donor. Gifts of $1 to $4,999 will be deposited in the cash portion of the endowment with gifts totaling $5,000 or more added to the principal of the scholarship fund. Fifty percent of the cash expenditures will be designated to West Virginia residents or legacies and 50 percent will be available to non- West Virginia residents. Legacy is defined as a sibling, child, stepchild, or grandchild of a WVU alumnus or alumna.
Eligibility criteria for the scholarship include: a student must be accepted as a freshman/full-time WVU student, have a minimum high school GPA of 3.0 and show financial need based on the completion of the Free Application for Federal Student Aid (FAFSA). Students will be eligible to retain the Augusta Scholarship for a maximum of four years of undergraduate studies provided they remain in good academic standing and sufficient funds are available. Recipients will be selected by the WVU Office of Student Financial Aid.
The names of those memorialized or honored by donors contributing $5,000 or more will be listed on the WVU Foundation’s electronic Wall of Honor, which is located on the first floor of One Waterfront Place in Morgantown’s Wharf District; on its scholarship website; in the Augusta Scholars register; which will be located on the Ddowntown Campus; and in the WVU Alumni Magazine .
The Augusta Scholarship program will be under the umbrella of the Foundation’s University Fund, formerly known as the Annual Fund. Other University Fund programs include: Foundation Partners, Foundation Associates, Campus Campaign, Student Support Fund, The Fund for WVU , Mountaineer Mark and the Mountaineer Line.
The WVU Foundation is a private non-profit corporation with assets of more than $721 million that generates, receives and administers private gifts for the benefit of West Virginia University .