Malcolm Family Scholarship - Incoming Freshmen

Recipients shall be enrolled in the College of Engineering. Recipients shall have demonstrated financial need as documented by the Office of Student Financial Aid. Recipients shall be residents of Iowa with preference given to residents of Pocahontas and Humboldt counties. All awards shall be for one (1) year but may be renewed for four (4) additional years including fifth year seniors or part of a fifth year at the discretion of the administering authority so long as recipients continue to meet the above stated criteria. If a recipient transfers out of the College of Engineering the award shall be terminated. This award shall be made available to students of undergraduate class standing including fifth year seniors. D. Application process: Applicants will complete a short essay. The College of Engineering Scholarship Office shall select six to ten applicant essays to submit to Kirk and Rae Malcolm. The Malcolm’s will then narrow the field to three applicants and return the three applicant essays to the College of Engineering for final selection. Kirk and Rae Malcolm may request that this application process be continued with other members of the Malcolm family so long as contact information is provided to the College of Engineering and the Foundation. E. Administration: In year one of the program a scholarship will be given to a student of freshman class standing. One student will be added in years two, three and four so at least one freshman, one sophomore, one junior and one senior will be continually supported. If a recipient transfers out of the College of Engineering, the award shall be terminated and the scholarship for that year shall not be re-awarded. The award shall pay eighty percent (80%) of tuition. The principal of the account may be used to supplement the annual earnings as needed. The scholarship program will cease to exist when the principal has been exhausted to a point where the earnings and principal will no longer support an incoming freshman through four years. Any residual funds in the Account will be transferred to the Engineering Scholarship Endowment and the Account will be closed.