It is no secret that college is a long-term investment for students. Many rely on loans, grants, part-time jobs and scholarships in order to pay for their classes and living expenses. To help with these expenses, Grand Valley State University is currently working on the creation of a new scholarship to award to students.

The scholarship in the works is in preparation for the 10-year anniversary of President Thomas Haas and first lady Marcia Haas at GVSU.

“Students and alumni who have graduated in the past 10 years were polled about what they thought was a fitting way to honor that anniversary,” said Scott Blinkhorn, associate vice president of development services.

This scholarship was the clear answer to the poll.The scholarship will be endowed through contributions from university donors and the West Michigan community. In particular, alumni from the past 10 years will be the main source of endowment. This is because they have first-hand experience as students at GVSU with Haas, Blinkhorn said.

The endowment needs to reach a $30,000 threshold in order for the scholarship to be awarded to students. Once this threshold is reached, the policy in effect at that time will determine the amount student applicants will receive.

The specifics of the scholarship, such as if more than one student will be awarded the grant, are still up in the air and may change in size and appropriation.

“It will depend on the amount in the endowment,” Blinkhorn said. “As the endowment continues to grow through earnings and additional gifts, it certainly could grow to multiple student awards.”

Students can begin applying for this scholarship as early as next year, but award amounts will depend on how soon the endowment threshold is reached. When the details are finalized, they will become available on the financial aid website.

“For any questions regarding scholarships, I encourage all GVSU students to become familiar with the website that financial aid has established,” Blinkhorn said. “It is a great tool and provides access to a variety of scholarship vehicles.”

For more information or to give to the Tom and Marcia Haas Power of 10 Endowed Scholarship, you can visit http://www.gvsu.edu/giving/funds.htm or contact university development at 616) 331-6000.