ANDREW S. & MARGARET LOECHNER, JR. SCHOLARSHIP
1. Name: The name of this scholarship shall be the "Andrew S. Loechner, Jr. and Margaret Loechner Endowed Scholarship".
2. Purpose: The purpose of this scholarship shall be to provide recognition and financial assistance to outstanding undergraduate students enrolled or planning to enroll at 'The Pennsylvania State University who are the sons or daughters of members of the Amateur Softball Association or who are themselves members of the Amateur Softball Association of Pennsylvania.
3. Amount of Fund: The initial principal of this fund, $50,000, is expected to be contributed to the Pennsylvania State University for the above-stated purpose by Galen E. and Nancy J. Dreibelis. Additional contributions may be made by interested persons or organizations.
4. Eligibility: Consideration for this scholarship shall be given to all undergraduate students enrolled or planning to enroll at The Pennsylvania State University who are sons or daughters of members of the Amateur Softball Association of Pennsylvania or who have achieved positive academic records or who manifest promise of academic success.
5. Selection Procedure: Recipients of this scholarship shall be selected in accordance with regulations issued under Title IX of the Education Amendments of 1972, by the Freshman Scholarship Committee upon recommendations received from a special committee of the Amateur Softball Association of Pennsylvania. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning, federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards.
6. Amount of Award: The number of scholarships awarded and the amount of each shall be determined by the Freshman Scholarship Committee. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall be added to the principal.
7. Term of Award: Each scholarship shall be awarded for one academic year and shall be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available.
8. Endowment Management: This endowment shall be subject to general guidelines and policies adopted by the Board of Trusties of The Pennsylvania State University for the management of endowed funds. Stability of endowment support and preservation of purchasing power against inflationary pressures shall be achieved by limiting spending to a specified percentage of the annually-determined market value of the fund. As authorized by the Board of Trustees, the University's Investment Committee monitors and administers annual endowment spending. Any investment returns in excess of the designated spending rate are retained in the principal of the fund and reflected in its market value.
9. Amendment: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are necessary to ensure the fulfillment of the above-stated.
Additional Information: For additional information, please the State Office: 717-545-1217 or email: email@example.com
Applications must be received each year by May 1st.