Establishing a new award is a three-step process:
Step 1: Determine what type of award you want to create
There are several ways you can reward deserving students – through scholarships, awards, prizes, or bursaries.
Step 2: Decide how you will fund your award
Support Your Award Annually
You may create a named undergraduate award with a minimum annual gift of $1,000 for a minimum of five years. 100% of your gift goes directly to student support.
Establish an Endowment
You may create a named award endowment with a minimum gift of $25,000, which will fund your award in perpetuity. The award may be named for yourself and/ or someone you wish to honor or memorialize.
A Combination of the Two
You may find it more convenient to create an endowment over time and fund your award annually for the first few years. For example: A gift of $5,000 a year would provide a $1,000 annual award, allowing the remaining $4,000 to be directed toward building an endowment.
Step 3: Set the terms and conditions of your award
You may designate your award to a specific faculty, department, degree program field of study, and year of study. Alternatively, you may choose to designate an "open" award with no faculty, field or year of study restrictions. You may also include additional selection criteria such as demonstrated leadership, athletic ability, or financial need. Award criteria must be broad enough and additional selection criteria kept to a minimum to ensure a sufficient pool of applicants.
The terms and conditions of your award will be subject to approval by the University of Alberta Scholarship and Awards Committee (UASC).