ICH Scholarship Program

 

 

Since the initial funding of our Billie C. Fowler International Connections of Houston Scholarship at the University of Houston – Clear Lake on August 23, 2001 there has been much discussion and quite a few questions asked regarding the scholarship. The funding of the scholarship is a major milestone for ICH. Additionally, we learned that it is an important scholarship for the University in that it is the first scholarship dedicated to aiding international students exclusively. In order to obtain our non-profit status we were required to designate a fundraising project and therefore how we would distribute those funds. In one of its first Board Meetings, the Board of Directors voted to establish a scholarship. Below is a very thorough explanation of how the scholarship system functions at the University of Houston-Clear Lake.

 

Chair, ICH Scholarship Committee

(Revised 5th April 2007, courtesy of:

Amy Weldon, Coordinator of Donor Stewardship, University of Houston, Clear Lake)

 Endowments and Scholarships  

    Scholarships are funds awarded to students to help relieve some of the financial burden associated with higher education.  Traditionally, scholarships are awarded prior to the beginning of the fall semester.  The amount varies, but is usually about $1,000, equally split between the fall and spring semesters.  Scholarship recipients receive notification via US mail and ultimately their UHCL accounts are credited with the award.

     Scholarship applications are available online and the scholarships’ descriptions of the qualifying criteria are published so students can choose the scholarship that best suits their individual needs (grade point average, major, undergraduate/graduate etc.) Students submit the applications with all the appropriate letters of recommendation and transcripts. A scholarship committee, comprised of UHCL faculty and staff members, reviews the applications and makes the award recommendations. It is possible for students to apply for several scholarships and receive more than one award depending on the number of applications received, qualification of applicants etc. The committee does try to spread the funds around so that a larger pool of students benefit rather than awarding multiple scholarships to a small number of students.

     The term endowment refers to funds that are deposited in an account designated for a specific scholarship award, such as International Connections of Houston. Funds deposited into an endowment account accrue interest annually. Endowments are gifts that keep on giving because of the lasting benefits they create. A portion of the funds are invested and the principal remains untouched. At the end of the designated fiscal year, scholarship awards are made from a portion of the interest gained. The remaining portion of the interest is then reinvested back into the principal. In this way, the account continues to grow over time. The annual payout rate is typically around 5% and this payout is used to fund the scholarships

April 19th 2007 at UHCL.  ICH Acting President and V-P, Programs, Kathy Waugh presents a check for the ICH Billie C Fowler Scholarship to Mr Dion McInnis, Associate  Vice-President with  Ms Ingeborg Hayes-van Zanten, International & Cultural Program Director (left) and Ms Amy Weldon, Coordinator of Donor Stewardship (right)

     International students attending the University of Houston-Clear Lake taking 12 credit hours can expect to pay over $5,000 in tuition and fees. Texas resident’s can expect to pay around $500 for the same 12 hours. Because of the tuition cost for non-residents, scholarship support can mean the difference between earning a degree and dropping out of school for international students. Endowments offer perpetual support thus making scholarship awards possible to alleviate this financial burden.

Read:  Connected to the Future 

By Melissa Mares, Coordinator of Corporate and Foundation Relations, University of Houston, Clear Lake

 

 

 

      

Members of the 2006-2007 ICH Board with Dr William Staples,President UHCL,  Mr Dion McInnis, Associate Vice- President  and Ms Amy Weldon, Coordinator of Donor Stewardship