ΜΒΨ Policy Library

This page is read only. You can view the source, but not change it. Ask your administrator if you think this is wrong.
====== National Scholarship Management Policy Manual ======

===== Purpose =====

  1. Purpose
    - The purpose of the National Scholarship is to further the purposes of the Fraternity by honoring current collegiate students who have devoted their time and efforts to musical organizations at the educational institutions of its Chapters. 

===== Eligibility =====

  2. Eligibility
    - Only students actively enrolled at the educational institutions of the respective Chapters for the semester in which the scholarship is awarded shall be eligible for the National Scholarship.
      - Brothers of Mu Beta Psi are not eligible for the scholarship.
    - Students of any academic major may apply for the scholarship.
    - The scholarship shall be both service-based and merit-based; Mu Beta Psi shall not discriminate based upon the financial status of any applicant.
    - Applicants must have a minimum GPA of 2.75 on a 4.00 scale.
    - Applicants should demonstrate, through the application process, a commitment to music as an art and as an educational subject.

===== Committee Structure =====

  3. Committee Structure
    - The National Scholarship Management Committee (NSMC) shall be a standing National Committee.
      - The National President shall appoint the committee chair. 
      - The committee shall consist of five (5) additional active Brothers as voting members appointed by the committee chairperson.
    - The National Scholarship Management Committee shall decide each year, at the first meeting following National Convention, whether to award a scholarship for the following academic year.

===== Scholarship Fund Endowment =====

  4. Scholarship Fund Endowment
    - The Scholarship Fund shall endow the Mu Beta Psi National Scholarship.
    - Scholarship Fund revenue shall consist of the following:
      - Fines collected by the National Office;
      - Designated contributions to the Scholarship Fund;
      - Funds raised for the Scholarship Fund;
      - Interest from the Scholarship Fund endowment.    
      - Unused Available Assets from previous fiscal years.
    - Fund Management
      - The Scholarship Fund endowment shall be held in (a) dedicated account(s) with financial controls identical to other Fraternity accounts.
      - The National Scholarship Management Committee shall be responsible for the management of the Scholarship Fund.
      - Available Assets
        - Available Assets for a given fiscal year shall consist of 50% of the Scholarship Fund revenue of the previous year.
        - Each scholarship awarded shall be at least $250.00
      - Reserved Assets
        - Reserved Assets shall be all assets of the endowment not designated as Available Assets.
        - Reserved Assets shall be unavailable for scholarship awards.
    - Disbursements
      - Scholarships shall be disbursed at the direction of the NSMC.
      - Scholarships shall be awarded from Available Assets.
      - Funds shall be disbursed directly to the collegiate institution of the recipient within one week of the award decision. 
      - The sum of all scholarships awarded in a given fiscal year shall not exceed the amount specified in the National Budget. 

===== Application Process =====

  5. 	Application Process
    - Application Distribution
      - Application forms for the following academic year are to be made available by September 15 of the current academic year.
        - Application forms shall be distributed to the financial aid office of each collegiate institution of the respective Chapters by the NSMC Chair.
        - Application forms shall also be posted on the Mu Beta Psi National website.
    - Application Submission
      - Applications shall be submitted directly to the National Secretary.
      - The deadline for applications shall be March 1st at 11:59 pm EST.
      - Applications received after the deadline will not be considered.
    - Application Review
      - Applications shall be blinded of all identifying information (including, but not limited to, name and collegiate institution) by the National Secretary before review.
        - The National Secretary shall distribute blinded copies of applications to the NSMC.
      - The NSMC shall begin reviewing applications at its first meeting after the deadline for applications.
        - The NSMC chair shall give the National Secretary a sufficient amount time to blind the applications before the first NSMC meeting after the deadline for applications.
        - The NSMC shall discuss applications in a case-by-case analysis.
          - The duration of the application discussion period shall be an equal division of a time period decided by the Chair and announced prior to discussion.
        - The scholarship recipient(s) shall be chosen by a simple majority vote of the NSMC. The Chair shall notify the National Secretary of the chosen application within three (3) days.
        - The Chair shall notify the National Treasurer of the chosen applicant(s) within three (3) days and provide the National Treasurer with all necessary information for how to address payment
        - The National Secretary must notify the recipient by June 1.
    - Application Maintenance
      - The scholarship amount shall be immediately added to the application, upon the approval of a scholarship amount.
      - The NSMC shall approve changes to the application by a simple majority vote.

===== Policy =====

  6. Policy
    - This policy may be revised by the National Scholarship Management Committee.
    - Changes to this policy shall be approved by a two-thirds (⅔) vote of the National Executive Committee, with presentation to the General Assembly upon approval.

> Approved by the NEC, January 31, 2017
> Sarah Guthrie
> Acting National Secretary
ΜΒΨ Policy Library

User Tools

Site Tools

Page Tools
