Catholic Scholars III Partners for Student Success Scholarship Fund

The Scholarship Fund shall provide one or more partial annual scholarship(s) to academically qualified and/or deserving Catholic Scholar student(s) of St. John?s University. The recipient(s) of the Scholarship Fund shall be selected by the University?s Office of Student Financial Services or its successor in conjunction with Campus Ministry. The criteria used in determining the recipients shall be based upon need and/or scholastic achievement. This Scholarship Fund is renewable for four years based upon students? ability to meet the criteria yearly. As part of the St. John?s University?s Partners for Student Success Program, St. John?s University will provide annual expendable match funding for Scholarships meeting the requirements of this Agreement during the first four full academic years of the Scholarship Fund?s existence as described in this paragraph. With receipt of the Grantors? payment totaling $130,000.00, the University will commence making its first scholarship match payment in the 2021-22 academic year. The University?s annual scholarship match payment will be in an amount equal to 7% of the Grantors? total $130,000.00 pledge commitment, which is calculated as $9,100.00. During the first four years, the income and appreciation on the Scholarship Fund will be reinvested. Beginning with the 2025-26 academic year, the Scholarship Fund shall be combined with the Pam G. Shea-Byrnes, D.Min. ?86SVC, ?90G Catholic Scholars Scholarship Fund, and the Catholic Scholars III Partners for Student Success Scholarship Fund shall cease.