The 1964 National Championship Football Team Endowed Scholarship Fund was established by the 1964 National Championship Football Team members to provide financial assistance to selected students. The Donor's intent for the endowment is to provide one or more annual scholarship awards each to be announced in the spring and disbursed the following academic year, half in the fall and the remaining half in the spring semester. Scholarship awards shall not exceed 80 percent of the earnings of the endowment.