Scholarships & Endowments
Because state funding for higher education continues to decline, scholarships and endowments are becoming more crucial to the success of Idaho State University and its students. Our many benefactors who support this fine institution help open the door to success for many deserving students attending Idaho State University, and their thoughtfulness is demonstrated in the caliber of students graduating from ISU.
Following is information about scholarships and endowments at Idaho State University. The Office of Financial Aid and Scholarships has information regarding existing scholarships. For more information, please contact the ISU Foundation at (208) 282-3470.
What is an endowment?
An endowment is a sum of money that is never spent, but is invested to provide a dependable stream of income. Endowments are permanent.
How large a donation does an endowment require?
The minimum amount to officially establish an endowment is $10,000.
Who can create an endowment?
Anyone may create an endowment. Individuals, foundations, corporations, and various clubs and organizations have all created successful endowments at Idaho State University.
How are scholarship awards made from individual endowments?
Only the interest income from an endowment is awarded in the form of scholarship dollars. Idaho State University usually awards the first 5% of interest income on endowments. One or more awards can be made from that amount.
Can I determine what type of student my endowment will benefit?
Absolutely. Donors provide the ISU Foundation with the guidelines for choosing the recipients of their scholarships. You may specify a certain major, grade point average, participation in a certain activity or club, or any other areas you wish to emphasize. A tremendous need exists, however, for unrestricted dollars, which are directed to the areas of greatest need by the Idaho State University Scholarship Committee. Endowments may also support areas other than scholarships, such as research, equipment and laboratories, or any type of department or program support desired by the donor.
Will I ever know the recipients of my gift?
Each year you will receive a letter from the ISU Foundation indicating the students who received your scholarship and some information about them. In addition, students are provided with information indicating the donor of their award, and in many cases, the donors receive a personal call or letter from students.
After the initial donation, how will my endowment grow?
Endowment funds grow most quickly through continued support from the original donor and from additional donations from friends and family. Endowment funds are carefully invested for the highest yield. Unless the donor specifies otherwise, the first 5% of the interest income is awarded to students in the form of scholarships, and the rest is returned to the principal to help the endowment grow.
I would like to start an endowment, but I am unable to provide the entire $10,000 at this time. What can I do?
The ISU Foundation allows donors three years to reach the minimum amount of $10,000 to start an endowment. Anyone wishing to donate to the fund needs only to send contributions to the ISU Foundation indicating the endowment to which it should be applied. When the amount reaches $10,000, the director of scholarships and endowments will contact you to complete the agreement.