More than $323,000 in scholarship funds are available to graduating CFISD students through our various fundraising efforts and the generous support of the community. Mark your calendars folks! The scholarship application for students graduating in the 2015-2016 school year will open in December. This blog will discuss the details surrounding the scholarships we award to students.
Since its inception, CFEF has awarded more than $6 million in scholarships to over 1,300 graduates of CFISD. Per year, CFEF may award as many as five graduates of each high school with a scholarship. The total amount and number of scholarships awarded is dependent upon the financial support from community members.
Criteria for the scholarship application process varies slightly, but is usually based on activities/leadership (25%), academics (25%), and financial need (50%). The scholarships include:
- CY-FAIR EDUCATIONAL FOUNDATION SCHOLARSHIPS – Scholarships of $10,000 and $2,000 awarded over two years to students at each Cypress-Fairbanks ISD High School;
- THE CECIL HALL SCHOLARSHIP– Two scholarships awarded over four years to CFISD students, who will attend Texas A&M University;
- THE ADAM JACKSON SKINNER MEMORIAL SCHOLARSHIP – One scholarship of $4,000 awarded over two years for a male CFISD student with high school drama, choir, team sports, debate or Boy Scouts of America participation;
- THE ERIC BASSETT MEMORIAL SCHOLARSHIP – One scholarship of $20,000 awarded over four years to a Cy-Falls or Cy-Fair High School student who will attend Texas A&M University;
- THE DYNEGY SCHOLARSHIP – One $500 scholarship for a CFISD student;
- THE WATSON FAMILY FOUNDATION SCHOLARSHIP – One $500 scholarship for a CFISD student;
- CYPRESS FAIRBANKS MEDICAL CENTER HOSPITAL Scholarship -Three $500 scholarship for a CFISD student entering the healthcare field;
- THE KEVIN BORGFELDT MEMORIAL SCHOLARSHIP – One $500 scholarship for a Cypress-Fairbanks High School band student;
- THE CHARLES COOK MEMORIAL SCHOLARSHIP – One $500 scholarship awarded to a Cypress-Fairbanks High School FFA student; and
- THE EDWIN C. SCHROEDER TRUST – numerous $1500 scholarships to attend a college of the Lone Star College System.
CFEF invests in the future by providing scholarship funds for qualified students seeking education beyond high school and by funding instructional programs and projects for the CFISD. Another way that CFEF provides scholarships for students is through endowed funds.
Endowed funds differ from others in that they are truly the gift that keeps giving. Instead of the entire amount of the gift being spent outright, the total amount of the gift is invested. Each year, only a portion of the invested income earned is spent while the remainder is added to the original principal. An endowment is a perpetual gift because only the interest is used to support the Foundation while the principle continuously grows.
- Endowments may be established in the amounts of $20,000, $50,000, $100,000 or more.
- Endowments will be named for private individuals, corporations and organizations, in memory of individuals and in honor of individuals.
- A scholarship will be awarded on an annual basis once the endowment is fully funded.
- Endowments will be designed with the Foundation’s minimum criteria and may also include special criteria.
- Should the endowment not reach full funding in seven years, the total amount donated will be transferred to the Foundation’s General Fund.
- An endowed scholarship that is fully funded by December 31 of a calendar year will be awarded for the academic year beginning the following fall.
- The donor will execute an endowment agreement with the Foundation to create a legal agreement for the endowment.
- All endowments have seven years to fund