Student Scholarships
At the time of the Class of '39 Golden Anniversary Endowment Committee began its deliberations back in 1984, it was the firm consensus of all members that one element of the class's gift to the University would have to be a scholarship fund. When the class entered Clemson in 1935, the country was still deep in an economic depression. Money was hard to come by and few scholarship funds were available. Despite it all, the class members achieved the dream of a college education, many of them by taking part-time jobs during the school years, and by working at menial jobs in the summers. It was an experience that left a lasting impression on them - of the economic hardships they and their families had worked to overcome. They appreciated the chance for an education and felt they were obligated to help others to get that same chance.
And so, from the income of the $500,000 that initially constituted the class gift to the University, a respectable percentage was earmarked for scholarships. The Golden Anniversary Endowment Committee decided, and the class approved having each scholarship be granted for a full four-year period. No stipulations were made as to the qualifications of the awardees - leaving that entirely up to the University. It was stipulated, however, that, over time, each of the colleges share equally in the program. The awards are made to members of the incoming freshman class, and are renewable each year to each awardee, depending on maintenance of satisfactory academic performance.
In 1994, to correct some misinterpretations that had crept into the administration of the Class of '39 Golden Anniversary Endowment Fund, changes were initiated by the committee. That fund was broken into three separate funds: a Scholarships Endowment, an Award for Excellence Endowment, and a Botanical Garden Endowment.
The Scholarship Endowment Fund is a part of the Clemson Fund, which is administered by the Clemson Foundation. At the close of a fiscal year, the Foundation determines the new balance of each fund and the percent of that balance that can be allocated to carry out the purpose of the fund. In this case, the Treasurer of the Foundation advises the Director of Financial Aid how much will be available for Class of '39 scholarships in the new fiscal year. The Director prepares recommendations for scholarship grants, which are acted on by the University Scholarships and Awards Committee. Before the new school year begins in the fall, those selected for scholarships are so advised. The amount of the award may vary depending on the circumstances of each individual case, but in all cases, the award money will be applied as part of the tuition payment of the student.
Whether or not additional gifts are made to the Scholarship Endowment Fund, it will continue to grow under the conservative management of the Foundation and will provide increasing amounts for scholarships. Recipients are not required to repay the fund, but their voluntary contributions will broaden this base of scholarship money in the years to come.
