Fund: Teresa and Byron Pollitt Endowment for Study Abroad Fund Department: VP International Affairs Admin Dept D01224 Purpose: Undergraduate Student Support BACKGROUND Byron graduated from UCR in 1973 with a BS in Business Economics and later earned an MBA from Harvard Business School where he graduated as a Baker Scholar. He began his career at McKinsey & Company, and served as CFO for Walt Disney Parks and Resorts, Gap, and Visa where he helped lead the then largest IPO in US history in terms of money raised. Now retired, he currently serves on the board of Voya Financial and Children’s Hospital of Los Angeles, and formerly served on the Finance Commission of the International Federation of Red Cross and Red Crescent Societies. Byron received UCR's Distinguished Alumnus Award in 2015 and is a member of UCR’s Board of Trustees. Teresa graduated from UCR in 1974 with a BA in Psychology and later earned an MBA from the University of Southern California and the Chartered Financial Analyst credential. She spent a 15-year career as a security analyst with the investment counsel firm of Scudder Stevens and Clark rising to the level of Vice President. Teresa currently serves on the San Diego/Imperial County Board of the American Red Cross and the Board of Trustees for both UCR and Children’s Hospital Los Angeles. She has also served on the National Board of the National Charity League and held numerous volunteer leadership positions supporting Children's Hospital of Los Angeles, the Junior League, and the public schools which educated their three daughters. The Pollitts believe that the opportunity to study abroad can be a transformative part of the college student experience and realize that UCR student participation in study abroad programs is 2%, significantly below the national average of 11% for all US undergraduate programs. Since the demographic profile of UCR’s student population suggests that affordability is an important if not the leading factor limiting a student’s ability to study abroad, the intent of this endowment is to provide financial assistance in the form of awards that will help pay for the study abroad experience. General Purpose: This fund will provide financial assistance in the form of awards that will help pay for the study abroad experience for undergraduates and thereby enable and encourage more UCR students to take advantage of study abroad programs. Awards from the endowment are to be offered on a campus-wide basis in support of undergraduate students applying for the Education Abroad Program, Opportunities Abroad Program, Faculty Led Education Abroad Program, and other similar type programs that may be introduced in the future. The intent is not to pay for the full cost of the experience, but to provide awards of sufficient size to make participation financially feasible to a larger group of interested students. Most awards will be about $3,000, recognizing that grant size may adjust over time based on program cost and other considerations. Award recipients will become Pollitt Fellows. Criteria and Selection Process Awards will be administered by UCR’s Office of International Affairs. Recipients will: - Have completed at least one academic year at UCR and achieved sophomore standing. - Have a minimum University GPA of 2.8. Beginning with fiscal year 2025, the minimum GPA may be re-evaluated and increased or decreased, but if decreased the minimum GPA is to be at least 2.5. If applicant is denied due to GPA, a written appeal may be submitted to the Office of Education Abroad (EA) within 15 days of the denial notification. Appeals will be reviewed by the EA scholarship selection committee and answered before the last day of scholarship announcement for the quarter to which a student has applied. - Be a U.S. citizen or U.S. military veteran with honorable discharge. - Be prepared to provide a meaningful share of the total cost of the experience. Consideration should be given to students foregoing income that helps pay for their college education from either work during the regular academic year or from summer employment. Each student may only receive one award during the summer or one quarter/semester. In years when there is no candidate who meets the criteria, awards will be held until the following year.