A-to-Z Index

Departmental Scholarship Policy
of James Madison University Foundation and James Madison University
[Effective July 1, 2004]

Each year Departments will receive their scholarship allocation letters in early February. Scholarship recipients should be selected by May 1st. Once a department chooses a recipient, they will await confirmation from the foundation before notifying the student. Any funds not committed by June 30th will revert to the Office of Financial Aid & Scholarships who will choose a recipient. All donor criteria will be followed on any reverted funds. In mid May, reminder letters will be sent to any department having uncommitted scholarship funds.

For JMU Foundation scholarships funded by endowments:

1) Foundation will inform Departments before February 15th each year with information to facilitate the selection of qualified candidates and the amount available to award. Information provided by the Foundation:
a. Name and account number of the foundation scholarship.
b. Amount of scholarship funds to award for payout in the upcoming academic year.
c. Criteria to select qualified candidate(s) for the scholarship.
d. Name of the Department requested to select qualified candidate(s).

2) By May 1st, Departments should complete a Scholarship Nomination form (SN) and forward it to the foundation (MSC 8501) for approval by the Foundation and the Office of Financial Aid & Scholarships. The SN forms can be found on the Foundation’s website located at http://www.jmu.edu/foundation/Forms.htm or by calling 568-3187 for assistance.

3) Departments should NOT notify scholarship candidates of their pending scholarship until receiving confirmation from the Foundation.

4) Foundation will confirm the scholarship to the Departments by returning SN forms that have been signed/approved by the foundation and the Office Financial Aid & Scholarships. Allow for a 2-week processing time from the time SN forms are submitted as instructed in procedure #2 above.

5) Before June 1st, Foundation will inform Departments of scholarship funds for which SN forms have not yet been submitted or received.

6) By June 30th, scholarship funds for which SN forms have not yet been submitted will revert to the Office of Financial Aid & Scholarships, who will immediately seek eligible candidates using criteria provided by the donor.

7) By July 31st, the university will have foundation scholarships recorded on the respective student’s account. The university will invoice the Foundation when payment is due. Foundation will make timely payment to the university for fall, spring, and summer scholarships as invoices are received.

To educate the campus community, a Scholarship Oversight Committee will be convened. Michael Walsh will chair this committee and they will meet monthly. This committee will be
charged with educating the deans and department heads in regard to allocating departmental scholarships in a timely fashion and the advantage of using their funds to attract and retain students.