Scholarship Payment Info

Scholarship Budget

The intention is to select a group of scholars who meet the academic eligibility requirements and have a financial need for awards totaling $200,000 over two years.  This $200,000 (or other amount depending on the number of eligible applications) will be paid over the junior and senior years of the successful scholarship awardees, subject to the awardees maintaining scholarship eligibility (as defined below). Fulfillment of the intention will depend on an adequate number of students who fulfill the eligibility requirements. It is hoped and expected the quality of the students and the scholarship process are worthy of the program being renewed annually.

Scholarship Award Amounts and Award Components

Scholarship award amounts to successful applicants will be based on each student’s financial need, as determined by the Xavier University of Louisiana Office of Financial Aid Award Letter for the Award Year June 2020 – July 2021. The maximum amount of each scholarship shall be $40,000.  The scholarship amount shall be paid in equal amounts over junior and senior years.  The scholarship awards shall be for direct education costs, such as tuition, and/or stipends to cover indirect education-related expenses such as rent, MCAT preparation and application fees, and medical school application fees, etc.  The type of award (direct education costs and/or stipends for indirect education-related costs) shall depend on the financial needs of each successful applicant, with the maximum set at $20,000 per type of award.

Scholarship Award Payment Timing

Direct Education Cost

The direct education cost component of each award shall be paid in four equal installments, at the beginning of each semester of junior and senior years.

Stipends

The Stipend portion of each award shall be paid in equal installments monthly over the academic junior and senior years. The purpose of the stipend funds is solely to further the scholar’s education. Each applicant agrees that if awarded this scholarship the applicant will use all the stipend funds to further the applicant’s education. Otherwise, there shall be no restrictions on how each scholar uses the stipend funds. At the end of each academic year the scholar receives scholarship funds, the scholar shall provide a brief summary of how these expenses were used.

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