Grant, Melvin, Jones, and Commercial Credit Company Funds to Make 20 To 25 Scholarships Possible

Consolidation of funds from four donors has enabled the Business School to establish 20 to 25 National Scholarships carrying a maximum stipend of $1000 beginning in September, 1940.

These scholarships are made possible by donations from the W. T. Grant Fund, the James C. Melvin Fund, the Jerome Jones Fund, and the Commercial Credit Company. Similar to the National Scholarships given by the College, the awards constitute the second such group to be announced by a graduate school in the University.

Geographical Distribution Considered

In the selection of applicants consideration will be given to geographical distribution. Dean Donham stated that applicants would preferably be chosen from areas where it was impossible for a man to live at home and study at a nearby university. The scholarships would thereby provide funds to assist those men who otherwise would be denied the opportunity of preparing themselves for a career by taking graduate work in business administration.

While the scholastic record of the applicant will be given great weight, those characteristics and aptitudes which are important in business will also be appraised, it was announced yesterday. Recommendations of professors and of business men for whom the applicant has worked will also be considered in the selection. Seniors in accredited colleges and all men who have been graduated from such institutions in the past two years will be eligible.

Awards Based On Need

Funds are available in sufficient amount to grant 20 scholarships of $1000 each, but it is expected that the average award will be slightly less than this figure. The amount granted to each successful applicant will depend on his financial need.

If a satisfactory record is achieved in the first year, the recipients will be assured of adequate financial assistance through scholarships, loans, jobs, and other types of aid to enable them to complete the work for a degree.

Applications for these scholarships may be made directly to the Dean's office at the Business School, or through the scholarship committee of the Business School Alumni Clubs not later than April 1, 1940. Unsuccessful applicants for the National Scholarships will be considered for the awards amounting to $300 each given by the Business School Alumni Clubs in the principal cities of the country.