IUB-Fernandus & Elizabeth J. Payne Fellowship

The income from the Fund shall be expended exclusively for the aid of students, undergraduate or graduate, who shall be enrolled as full time students in the following departments or areas of study of Indiana University College of Arts and Science, Bloomington Campus — Zoology, Botany, English, History, Philosophy, Greek, Latin, Economics, Mathematics, Government and Geology. The income from said Fund shall be allocated by the Committee of five members of the faculty of the Indiana University College of Arts and Science, Bloomington Campus, to be appointed by the President of Indiana University Foundation. The student or students to whom allocations are made, the purpose, within the limitations above stated, and the sum to be alloted to each student to whom an allotment is made shall be at the discretion of said Committee.Such Committee shall have the authority and power to select the students to whom the grants are to be made and the amount of and the terms and conditions on which the grants are made.It is the intent of the Donor that the committee shall use the income from the Fund to aid undergraduate and/or graduate students in ways which will contribute to the advancement of their education.