Quote:
Originally Posted by MajinHurricane
My friend who works the finance department at ubc says about 50-75% of scholarships go unaccounted for.
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It's called an endowment fund...meaning the university never touch the cash that goes into the pot (principal). Only the interest that is accrued is given to the students..hence a fund that will never decrease in size and a gift that keep on giving..even in an economic recession.
Next, any more myths for me to debunk?