CHS President's Handbook 2013

Articles about the School of Hotel Administration

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Page 55 of 70

Cornell Hotel Society-Chapter President's Handbook • The racial and ethnic diversity of Cornell's first-year students continues to grow. Students of color comprise more than 36 percent of the Class of 2015. • It now costs less to attend Cornell than it did a decade ago for families making less than $75,000 a year. We have reduced the loan portion of our aid packages by more than $10,000 for those families. • Cornell has increased unrestricted grant aid—which is drawn from Cornell's operating budget—by 25 percent and increased restricted grant aid, in the form of scholarship gifts, by 15 percent. • More than 60 percent of students who qualify for need-based grant aid receive substantial financial aid grants of $30,000 and higher. • The number of first-year international students in fall 2011 increased by 24% to 349 students. To endow a scholarship at the School of Hotel Administration requires a commitment of $100,000 which can be paid over 5 years and is considered a tax-deduction. Once endowed, the scholarship is directed to any student at the School requiring financial aid. It is also possible to assign "preferences" to the scholarship. (Please note that given the confidentiality issues surrounding financial aid, Chapters cannot be involved with choosing the student.) For example, a Chapter may want to consider awarding the scholarship to a needy student from the Chapter's region. IF there is no student that fits the preference, the School will award it to another student. The Chapter President will receive information about the student every year and we encourage the Chapters to connect with their scholarship recipient to invite them to events, etc. Chapters typically organize one to two fundraisers a year to raise the money necessary to meet their commitment. Creating and Maintaining a Scholarship Fund Scholarship is important to the foundation of CHS as it supports our mission to give back to the University. The following bullet points are steps to remember when creating and maintaining a scholarship fund: • • • • Create and name the fund so all the money you raise throughout the year can be put in one place. Clearly state where the money will go and the process for giving out the scholarship. Have a board position that specifically focuses on scholarship so that they can liaise with the school to get any applications needed from students. Follow up with any Hotel School group or student to which you have presented money. Page | 56

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