By Daniel Shapiro and Jacqueline Arroyo / Jambar Contributors
Youngstown State University distributes more than $11 million in scholarships annually through the YSU Foundation.
The YSU Foundation is an independent, nonprofit organization that supports student scholarships, development and career opportunities. The foundation awards nearly 800 scholarships annually with application deadlines Feb. 1.
Tiffanie Thomas, endowment stewardship coordinator for the YSU Foundation, works with development officers at the YSU Office of Financial Aid and Scholarships.
Thomas said she helps draft and finalize endowments and scholarships for the foundation.
“To start the endowment, we need at least $10,000, but you can do that in one lump sum or you can do that by setting up pledges,” Thomas said.
According to the YSU Office of Financial Aid and Scholarships, the foundation has received a total of $321.5 million in endowments. Once a donor begins the endowment process, foundation development officers reach out to gather more information about their goals for the scholarship.
Development officers gather information on whether the donor wants the endowment to support a specific student, college or major.
Once an endowment draft is prepared, Thomas said she ensures the spelling is correct, the scholarship meets award criteria and the recipient is an enrolled student.
However, Thomas recommends students visit the Office of Financial Aid before contacting the YSU Foundation.
“Always start with the [Office of Financial Aid and Scholarships], because they’re going to be able to help not just with scholarships but grants, loans, things that aren’t held in our office,” Thomas said.
Along with YSU Foundation scholarships, the Office of Financial Aid and Scholarships awards a variety of scholarships to students, including merit-based scholarships for incoming freshmen. These scholarships are automatically applied to students and can be renewed each year.
Jessica Smith, manager of scholarships and special programs, explained how merit-based scholarships are awarded.
“You’re going to get that based on your GPA and your test score,” Smith said. “The [scholarships] range from $1,000 to $5,000 a year for up to four years, and they’re renewed as long as you keep a 3.0 GPA and 24 hours in a year.”
Students who are not freshmen, or did not receive a merit-based scholarship, may qualify for a scholarship as an honors student.
Students who excel in the classroom and apply to the Sokolov Honors College can earn different scholarships based on honors criteria.
Melissa McKenney, director of the Office of Financial Aid and Scholarships, said merit-based and honors scholarships have different criteria requirements.
“A student would have to meet the honors college criteria … and maintain the scholarship as well, like you have to participate in the honors college and you have to do service,” McKenney said.
McKenny said the Office of Financial Aid has worked to simplify the scholarship application process by offering the YSU Foundation application, which serves as a single application for most scholarships.
Another factor to consider when applying for scholarships is whether a student is a student-athlete.
Athletic scholarships are available exclusively to student-athletes and help support their educational expenses.
Rebecca Fink, senior associate athletic director for internal operations, oversees compliance, academic affairs and sports supervisors. Most athletics-scholarship funding comes from donor endowments.
“We have probably over 200 athletic endowments that different individuals have set up,” Fink said. “Whether they’ve been former student-athletes or supporters of the programs, it really allows us to stretch our scholarship budget.”
Student-athlete scholarships can be divided among multiple students. Coaches have an equivalency limit, which serves as their allocated budget.
Fink collaborates with the YSU Foundation and credits it for many of the athletic endowments it receives.
“We work with the foundation to confirm that everything looks good and their [student-athletes are] meeting all the things they need to,” Fink said.
Regardless of whether the above information applies, students are reminded to complete the Free Application for Federal Student Aid.
Once a student submits the FAFSA, the Office of Financial Aid can direct them to the YSU Foundation for additional assistance or other resources.
The deadline to complete the FAFSA is June 30 each year.