All scholarships or awards from University or departmental funds shall be awarded by the President or his designate through and upon the recommendation of the Scholarship Committee. This committee will be appointed by the President from members of the University faculty and staff.

The President is authorized, subject to any maximum set by the Board: 1) to modify the value or amount of any scholarship, award or grant established by the Board of Control; and 2) to determine the number, if any, of each which will be awarded in each semester or year. The President will provide at each May Board of Control meeting an annual summary of the scholarships, awards and grants awarded for the academic year.