Trustees Increase Scholarship Funding

PLAINVIEW – The Wayland Baptist University Board of Trustees recently approved a $57.2 million budget for the 2021-22 school year, including an additional $700,000 for merit-based scholarships. Last year, Wayland granted approximately $1.5 million in merit-based financial aid.

Wayland President Dr. Bobby Hall said the increase in scholarship allotment shows a commitment from the university to support academically high-achieving students.

“Our administration felt it important to increase funding for merit-based scholarships in order to reward our best students, and to help more top achievers attend or remain at Wayland,” Hall said.

Merit-based scholarships are awarded to students based on their academic accomplishments either prior to coming to Wayland, or while enrolled at the university. Through Wayland’s Pioneer Scholarship, students can earn up to full tuition based on high school achievement and college entrance exam scores. Wayland also has several other merit-based scholarships that pay varying levels of support based on achievement.

While college entrance exams such as the ACT, SAT or CLT are used to calculate scholarship dollars for academically high-achieving students, the exams are not required for admission to Wayland.

Wayland continues to increase its number of endowed scholarships as well, adding eight this year with another five already pledged. In the past two years, 20 new endowed scholarships have been added, bringing Wayland’s total to 375. Scholarship accounts are fully endowed once the principle reaches $25,000. Once endowed, the accounts earn interest. This interest is used to fund student scholarships that are reserved for students who meet certain criteria as specified by the donors.

The new budget year begins July 1, 2021.