Increase in Awarded Presidential Scholarships

October 13, 2016

Questioner: Anonymous

Posed to: John Delaney, President, University of North Florida

 

In the e-mail you sent to faculty on 9/22, you noted the large number of Presidential scholarships awarded to UNF students. While this is certainly great, I am wondering if we can get (a) an accounting of how much is being spent on these scholarships and where the money comes from and (b) why the UNF endowment seems to not have increased substantially in many years.
Response from the Floor by Vice President Shari Shuman:

There were three parts of the question. The first part was about the number of Presidential Scholarships. That information will need to come from Enrollment Services. The second part of the question relates to from where are the Presidential Scholarships are paid. Presidential Merit Scholarships are paid for through the regular E&G (Education and General Funds) budget. The UNF Foundation also provides many merit-based scholarships for students from the UNF Foundation budget. The third part of the question is about the Foundation and its endowment. In 2008, it was about $100 million dollars. After the economic crash in 2008, the endowment reduced to about $70 million. Currently, the endowment is up to about $90 million dollars. In 2003, the endowment was around $50 million. There have been some declines, but other than the dramatic drop in 2008, the endowment was on an increasing trend.