Viola T. Mays Endowed Scholarship Fund
Viola T. Mays, a 1930 graduate of ISNU, made a bequest to Illinois State University through her will. Proceeds from the sale of certain properties were to be used to fund a loan fund for senior students. An endowment fund was established. The interest earned each year is to be transferred to the ISU Student Loan Fund, which is to be used for loans to senior level students. Senior students at ISU seeking a loan must be in good academic standing and demonstrate financial need. Assets from this endowment are invested in the ISU Endowment Investment Pool. Viola T. Mays, a 1930 graduate of ISNU, made a bequest to Illinois State University through her will. Proceeds from the sale of certain properties were to be used to fund a loan fund for senior students. Guidelines for the fund were established based on information from her will. However, because other types of loans are available to students and the University currently has no process for making student loans from such sources, no loans had been made from the fund, nor loan balances owed to it, for a number of years. The Executive Committee of the Illinois State University Foundation Board therefore approved action to change the loan fund to an endowment to be known as the "Viola T. Mays Endowed Scholarship Fund," to be used to provide scholarships to incoming freshmen.
Additionally Supports: Mays Scholarship Fund