Endowed and Annual Scholarships/Grants
Scholarships and grants play a major role in providing necessary funding for Mu Phi members. The Foundation provides more than 60 grants and scholarships, which amounts to more than $130,000 of available financial assistance, each year. These vital sources of funding come through both endowed and annual scholarships and grants given by donors.
Endowed Scholarships
Giving to an Endowed Scholarship
Perpetuates the memory or legacy of a loved one
Honors those who have significantly influenced Mu Phi Epsilon or embodied its core principles
Invests in the legacy of Mu Phi Epsilon
Endowed scholarships and grants are designed to give annual awards to students indefinitely. The term endowed means that the gift from the donor is invested. A portion of the interest earned then provides yearly scholarships for students, while the original gift or principal is never used. Year after year, the remainder of the interest plus dividends and capital gains earned are reinvested so the principal grows. As the size of the principal grows, the interest earned also grows and provides larger amounts to award to members.
Mu Phis and friends of Mu Phi Epsilon may endow a permanent scholarship or grant award through the Foundation's endowed scholarship program with a gift of $25,000 or more. Endowments may be funded over several years by an individual or group of individuals. The donor(s) may propose criterion for the endowment such as specific chapter, major/minor, instrument, or other areas of interest; all criterion must be consistent with the Foundation's mission and regulations regarding public foundations. All scholarship awards are determined by the Foundation's Scholarship Selection Committee.
For more information on how to establish a new Foundation scholarship please contact Sean Kilgore at vicepresident@mpefoundation.org.
Annual Scholarships
Annual scholarships are funded by the generous gifts of Mu Phi donors. If donors decide to stop funding an annual scholarship, the scholarship may not be awarded that year; however, it can be reinstated at any time. The amount given for an annual scholarship is flexible, but a $1,000 minimum is preferred.