The OEF attempts to give a scholarship to every qualified graduating senior from Malad High School. There are several types of scholarships included under the OEF scholarship Program.
Scholarships funded by endowments established in memory of local citizens
Scholarships funded annually by individual and family donors.
Scholarships funded annually by local and regional businesses, professionals, and organizations.
Scholarships partially funded by business and individual donors and partially by the OEF.
The amount of each scholarship in the OEF program varies, but the OEF strives to make each scholarship worth at least $500.
All endowed funds are invested in mutual funds through Piper Jaffray of Pocatello. Scholarships are funded by the interest earned during the year on the mutual funds.
Donations from individuals, businesses and organizations are used as follows:
Donations from $1 to $249 will be combined with other donations until $250 is accumulated for a scholarship awarded in a specific vocational area. The OEF will make up the difference (up to $250) to build the scholarship up to $500.
Donations from $250 to $499 will be used for a scholarship awarded in the name of the donor and the OEF, as the OEF will make up the difference to build the scholarship up to $500.
Donation of $500 or more will be used for one or more scholarships awarded in the name of the donor.
The OEF scholarship process is coordinated with the Malad High School counselor's office. After an informational meeting sponsored by the OEF in early spring, students complete the OEF scholarship applications and return them along with letters of recommendation to the high school counselors office, which provides high school transcripts. The OEF scholarship subcommittee determines the eligibility of applicants for the various scholarships and makes its recommendation for scholarship recipients to the OEF board, which makes the final decision.
The scholarships are announced at the Senior Award Assembly in May. When possible, scholarship donors are invited to present their scholarships to the recipients. Students receive award letters which informs them of the process for receiving their scholarship money; they are required to write letters of appreciation to the donors prior to receiving their scholarships. If a student does not attend a postsecondary institution within a year of the award or does not use the scholarship for educational expenses, he or she is required to repay the full amount of the scholarship.