The Financial Advisory Board plans to allocate some Student Government Association scholarship funds to sustain the Lions for Lions scholarship.
The 2016 senior class created the Lions for Lions scholarship to aid undergraduate Emerson students financially at the college.
Executive Treasurer Ian Mandt proposed splitting the $25,000 meant for the SGA scholarship into two parts following a conference call with three faculty members from the Office of Financial Aid at the FAB meeting on Thursday, Oct. 25. Splitting the money would help endow the Lions for Lions scholarship and fund the SGA scholarship. However, FAB does not know the exact amount of money needed to continue the Lions for Lions scholarship.
Joint session still needs to vote on the distribution of SGA’s donation to Lions for Lions and the criteria for the SGA scholarship before they can become official, though it is unclear when this vote will occur.
The Lions for Lions scholarship cannot gain interest or endowment due to lack of finances. The college cannot grant it to students as a result. Previously the student activities fee, an annual $836 fee paid by all undergraduate students, funded the Lions for Lions scholarship in part. SGA did not disclose details of the Lions for Lions fund’s amount.
The interest that accumulates in the SGA and Lions for Lions scholarship bank accounts funds each allocation of the scholarship.
“Lions for Lions allows you to continue your education—SGA allows you to finish it off,” Mandt said.
FAB discussed making the SGA scholarship need-based for juniors and seniors at Emerson. Joint session will vote to solidify criteria and distribution in an upcoming meeting, and the Office of Financial Aid will get a say in who receives the scholarship.
Students can receive the SGA scholarship because it has enough funds to gain interest. SGA will create two active scholarships by transferring money from the SGA grant to the Lions for Lions scholarship.
“I love the idea of making two scholarships,” Executive Vice President Raz Moayed said.
News editor Riane Roldan did not edit this due to a conflict of interest.
Correction 11/7: The November 2 article “Student Government Association moves to revive ‘Lion for Lions’ scholarship” incorrectly stated the ‘Lions for Lions’ scholarship can be granted. To clarify, the scholarship is not available because the balance has not reached an endowable amount. The article also incorrectly said FAB will move to make the SGA scholarship need-based for juniors and seniors at the college. To clarify, the vote to solidify criteria and distribution will take place in Joint Session and the Office of Financial Aid will handle awarding the scholarship independently of SGA. The article has been updated to reflect these changes.