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How are Foundation scholarships named and how is the selection criteria established?

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How are Foundation scholarships named and how is the selection criteria established?

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The major benefactor of a scholarship establishes the scholarship name. You can establish a scholarship in your own name or choose to name it for a friend, family member, or a favorite faculty member. You also aid in establishing the criteria by expressing your intentions for the award. The Foundation will draft the criteria according to your specifications and present it to you for your approval.

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