SWC Scholarship Funding Sources Mulvehill-MacGregor – Established by Dr. Mulvehill to honor Dr. MacGregor his major advisor. –Funds to encourage students in the study of Soil Science. Funds are in an endowment that generates $ 6 to 8000/year. –Currently have $8, available to disperse. Minnesota Plant Food Association – Established in early 1970s to award funds to students interested in Soil Science. –Endowment funds generate $ /year –Currently have $ available to disperse –Total available at this time - $

Student Aid Program at UM F.A.F.S. A. – Federal form used by parents for financial aid or by non-dependent students. This form produces a key number EFC or expected family contribution Cost of U = $ 23,000/year Subtract EFC from 23,000 to determine the student needs for financial aid. If the student EFC>23,000 & aid =0 If EFC<23,000 = student eligible for UM aid

Aid Sources Grants - federal, state, UM – these are not paid back CFANS Scholarship – based on class rank, test scores, grades. This is added to their aid package – range of $ /year for 1 to 4 years. Order of packaging = –1. State and Federal –2. Other University Grants –3. CFANS Scholarship –4. Student Loans (federal loan program) –5. Student works for $ to pay expenses is not included in aid package unless is work study (some federal $ ?).

SWC Scholarship $ Prior to 2006 – student scholarship winners (we called the essay contest winners) received a check in their name. After 2006 the $ was directly deposited into their STARS account (now called a student financial aid account) If a student EFC >23,000 the SWC $ would be a direct deposit in their student account to be spent as they wish. If a student EFC <23,000 the SWC $ would subtract from their UM,State Grants – net gain for the student = 0. If student has grants and loans, the SWC $ would be subtracted from their loan amount – net gain = 0? If student only has loans – SWC $ is subtracted from their loan amount. Net gain for student = 0 today but the loan that is needed to be paid back in 20 years is reduced by SWC$

Advantages for Scholarship Students who have no grants or loans get a monetary award from SWC $ to be spent as they wish. Students with loans have their loan amount reduced by the SWC $ (ie they borrow 10,000 and get a 500 SWC $ they only owe 9,500. Students get the recognition of receiving an SWC Scholarship that is based on –GPA, credits achieved, college club activities, demonstrated interest in soils, international experience.

The Problem as I see it The $5000 to 10,000 per year that SWC has to distribute is currently subsidizing: –Federal or state grants –UM grant programs or the –federal loan program. It is only sometimes an indirect monetary award to the student. (mainly for those who have EFC>23K) Solutions: –Scholarship as currently provided – make a really nice certificate so they feel like they really got something. Use Scholarship funds to provide a nice program/meal/award dinner. –Travel Grants: If student goes on some type of educational travel and have receipts for travel they can be reimbursed for the travel expenses and this won’t impact their financial aid package. –Is Soil Judging Travel –Other ?