100^th Endowed Scholarship Established at Panola College

The addition last week of the Hummadi Family Endowed Scholarship brought to one hundred, the number of endowed scholarships available for Panola College students. “This is a milestone in the history of the College,” said Van Patterson, Director of Institutional Advancement. “Approximately fifty-five percent of our students receive some form of financial assistance. Endowed scholarships are especially important since they provide monetary support that may not be available through other sources.”

The first scholarship to be endowed at Panola College was the John M. Bayne Scholarship. It was established by Panola College Professor, Dr. John M. Bayne, who gave a generous sum upon his retirement from Panola College in 1974. Almost 10 years went by before the second scholarship, the Chester E. Harris Memorial Scholarship, was established through his estate following his death in 1983.

A majority of the scholarships were established to benefit the general student population and are awarded annually based upon a student’s financial need or academic standing. However, some were established to benefit students entering specific programs such as nursing, the performing arts, athletics, health careers, technology and journalism. 

Endowments are unique in that unlike other gifts to the College, they will last for the life of the institution. This is because the original gift, the principal, is invested and only the interest earned is used to provide scholarship support. Endowed scholarships at Panola College are currently valued at just over $1.8 million and are being used to support deserving students across the institution.

“I invite the public to view the Endowed Scholarship Wall the next time they visit the campus,” said Patterson. “It is located in the Martha Miller Administration building and is a testament to the generosity of so many in our community. A plaque representing each of the 100 scholarships is hung on that wall. Every plaque has its own story to tell. Some show the support of local families and businesses while others keep the memory of a loved one alive. Each is unique and important in the life of this institution.”