|
The donor’s intention
for this scholarship fund is stated as follows:
Scholarships shall be awarded to persons desiring to
give their full time service to the Church of our
Lord. They should possess the characteristics of
dedication, capability and need. The scholarships for
young men shall be for students desiring to attend
Davidson College or Union Theological Seminary in New
York. The scholarships for young women shall be for
students desiring to attend the Presbyterian School of
Christian Education, Richmond, Va. The young men and
women receiving scholarships shall be selected by the
appropriate committee of Orange Presbytery (North
Carolina), or its successor, (New Hope Presbytery and
Salem Presbytery) with preference given to persons
residing in the jurisdiction of the Orange Presbytery
(New Hope Presbytery and Salem Presbytery).
It is further stated by the donor:
Such amounts of the income from the funds held by the
Presbyterian Church (U.S.A.) Foundation, Inc. as may
be necessary to provide scholarships awarded by the
Orange Presbytery (New Hope Presbytery and Salem
Presbytery) shall be sent to the Orange Presbytery
(New Hope Presbytery and Salem Presbytery upon written
request by the Presbytery to the Presbyterian Church
(U.S.A.) Foundation, Inc. The Orange Presbytery (New
Hope and Salem Presbytery) shall disburse the funds
received by it to the persons to whom the scholarships
have been awarded. In the event all of the income is
not used in any year, it shall be reinvested by the
Presbyterian Church (U.S.A.) Foundation, Inc.
Administrative guidelines
The Office of Financial Aid for Studies has been
assigned the Loy Scholarship Fund and is responsible
for sending funds to New Hope Presbytery and Salem
Presbytery.
New Hope Presbytery and Salem Presbytery have full
responsibility and authority for selecting the
recipients of the awards. This can be done in any
manner which the two Presbyteries deem appropriate.
Each year, the Presbyteries will be informed by the
Office of Financial Aid for Studies of the amount of
funds available for the year. When the selection
procedure of each Presbytery is completed, the names,
together with the amounts of the awards to be made,
shall be forwarded in writing to the Office of
Financial Aid for Studies.
The Office of Financial Aid for Studies will be
responsible for reinvesting any income which is not
used during a given year.
Click here for an application form. |
A