Along with buyouts and budget cuts affecting student life at Tech, scholarships may be next to fall under the critical eye of administrators looking for ways to shore up diminishing funds.Due to the souring economy, the Tech endowment is also put at risk. The endowment is where most of the private gifts given to the university end up. In turn, the Tech Foundation divvies up these funds in the best way it sees fit. This includes scholarships, supporting faculty, providing labs and helping fund new construction projects such as the Nursing Building and S.T.E.M. Center. The foundation is the overseer of the endowment.
The endowment works much like a banking account. The funds put in are then invested and collect interest. However, with the downturn of the economy, the endowment has taken a large hit. This could spell disaster for those students that rely or will rely on scholarships to help pay their way through college.
Since the university is not completely state funded, the foundation and endowment play a crucial role in supporting the Tech infrastructure.
