Create a Scholarship
What kinds of scholarships are available?
Donors can establish scholarships for undergraduates, graduate students and alumnae wishing to continue their education. All scholarships are either expendable or permanently endowed.
An expendable scholarship is one that is established for a short period of time, usually five years. An endowed scholarship is one that is permanently established to yield scholarship awards into perpetuity. Each have separate minimums as established by policy, are invested prudently to maximize the available funds for award and have a small administrative fee assessed annually.
The current minimum for an expendable scholarship is $10,000. The current minimum for a permanently endowed scholarship is $50,000. Foundation scholarship awards are always at least $1,000 and more than half are usually in the $2,000–$5,000 range.
Memorial scholarships established to honor members who have passed away are exempt from minimum dollar amount requirements, although if the total donated/raised is less than what is needed to make an award, the gifts will roll into the General Scholarship Fund.
How do I establish a scholarship?
Donors can fund scholarships through gifts of outright cash, appreciated securities, through a planned gift such as a bequest or gift of life insurance or a combination thereof. Pi Beta Phi chapters and alumnae organizations can also establish scholarships.
A permanently endowed scholarship establishes a lasting legacy, benefits members in financial need and strengthens Pi Beta Phi — all into perpetuity. Endowed scholarships can be funded over a period of up to three years.
Expendable scholarships can also be converted to permanently endowed ones, if gifts are made to reach the required minimum for a permanently endowed scholarship.
Can I restrict the scholarship to my chapter?
Absolutely. More than half of all Foundation scholarships have some sort of restriction or preference established, generally either by chapter or by state of residence. Foundation staff can help discuss available options.
How are scholarships awarded?
All scholarship awards, with the exception of the Sign of the Arrow Melissa Scholarship, are based on three criteria:
- Financial Need
- A record of service to Pi Beta Phi, campus and community
The Foundation’s scholarship process opens each November and is completely online. The deadline is February 15, and awards for the coming academic year are announced by May 30. Disbursements are made by September 1.
Committees for undergraduate, graduate and alumnae continuing education awards review every completed application and score each applicant on the published criteria. Pi Beta Phi alumnae from across the U.S. and Canada comprise the committees, which will evaluate anywhere from 20 to 300 applications in a one-month period. Each applicant is reviewed by at least two committee members. Committee scoring yields a ranking, and applicants are then matched to available scholarships. The Board of Trustees makes the final determination as to who receives scholarship awards.
For more information or to establish a scholarship, please contact Betsy West McCune, Programs and Operations Director.