Everyone could use a little extra cash.

For the first time, the Student Government Association will award two students each a $2,000 scholarship to be applied toward next year’s tuition. The scholarships with be awarded to one male and one female, and finalists will be announced at the end of this week.

Sensitive to the state of the economy and the financial stress it incurs, the SGA formed the idea of a scholarship last year and began pursing it last summer, said Sam Warren, SGA executive president.

[quote]We wanted to make sure this was an elite scholarship but still something accessible to a lot of students. - Nick Livengood, SGA executive treasurer.[/quote]

“(The SGA) wanted to lessen the burden (of the recession) in any way possible,” Warren said. “We felt that the creation of a scholarship would be the best way to relieve that stress and create less tension in (students’) lives.”

SGA first considered endowment or university funding for the scholarship, but neither option would grant SGA members direct control of the money. Creating an endowment fund would restrict usage and allocation and funding through the university would create an unnecessary middleman.

“We wanted to find funding for this scholarship that would let us be flexible (with the money),” said Nick Livengood, SGA executive treasurer.

The SGA rollover account fit the criterion. At the end of every year, unused money in the organization budget is put into the account and typically reserved for special allocations. A total of $4,000 will be taken from the rollover account each year to fund the two scholarships.

“A lot of people responded (to the announcement) really well,” Warren said. “Nine or 10 people emailed me the first day asking for details.”

To be eligible for the scholarship, students must have a minimum GPA of 3.5 and a clean judicial record. Campus and academic involvement must be stated in the application.

“We wanted to make sure this was an elite scholarship, but still something accessible to a lot of students,” Livengood said.

“I think a lot of the students who apply for it will be leaders on campus who pay attention to the values that the university and the SGA uphold.”

SGA appointed a committee of executive board members and senior class officers to determine scholarship recipients.

“But Dean Patterson will provide oversight to make sure people are giving fair chances to everyone,” Warren said.

The scholarships will be awarded annually at the Organization Awards and Inaugural Ceremony. This year, the ceremony is  March 29.