“FILIPINO AMERICAN MILITARY MEDICAL OFFICERS SOCIETY (FAMMOS) SCHOLARSHIP

RULES TO GOVERN THE “FILIPINO AMERICAN MILITARY MEDICAL OFFICERS SOCIETY (FAMMOS) SCHOLARSHIP”

The scholarship, which is to be funded by “FAMMOS,” shall take effect in the manner specified in Items A-E below. It shall be made available to all students intending to study at the University of the Philippines system-wide.

A. QUALIFICATIONS:

An applicant for the “FAMMOS Scholarship” shall be qualified under the following rules:

1. The Scholarship award shall be for any financially needy student (parent’s annual gross income must exceed (P350,000.00) who can prove descent from any active or veteran members (deceased or alive) of the Armed Forces of the Philippines;

2. Priority shall be given to descendants of enlisted personnel on a first-come-first served basis and those orphaned by one or both parents, otherwise, non-descendant shall be considered;

3. If an entering freshman, must have passed the UPCAT; sophomore and above must have obtained a general weighted average of “2.5” or better with no grade of “5.00” or unremoved “4.00” or “inc.” in the semester immediately preceding the application;

4. Must be enrolled in at least 15 units at the time of the award of the grant; and

B. BENEFITS:

90% of the annual interest earnings of the Endowment Fund but not to exceed P25,000.00 per semester. In future years, the amount may be increased to a comparable value, based on inflation, to be decided by the University.

C. TERMS:

The scholarship is for any degree or course of study which is renewable every semester until the recipient finishes his/her course provided he/she satisfies the following conditions:

a. Must pass all subjects, remove or complete all grades of “4.00” or “inc.” on or before the last day for late registration of the following semester and repeat failed subjects at personal expense and carry a load of at least 15 units per semester; and

b. If a scholar obtains a failing grade or failed to remove or complete grades of “4.00” or “inc” in the semester he/she is currently enrolled, the scholarship shall be “ipso facto” terminated. However, an awardee may be reinstated in the semester immediately following the qualification if he/she meets the requirement stated in C(a) during the period he/she was disqualified;

c. Must not shift to another course or go on a leave of absence without prior approval from the Office of Scholarships and Student Services.

D. FINANCING:

The donor (FAMMOS) shall initiate and build a trust fund of at least P600,000.00 under the name of “FAMMOS Scholarship Trust Fund” to be managed by the appropriate department of the University. The fund will be a restricted fund, with the principal to be kept intact and with only the income thereof to be used for the scholarship. Only 90% of the income shall be used for the scholarship with the remaining 10% to be added to the principal annually. The scholarship award shall not be initiated until such time that the income from the trust fund may be able to support a student. The Scholarship may give an award to as many individuals as the income from the trust fund would allow.

E. ADMINISTRATION:

The Office of Scholarships and Student Services shall administer the scholarship grant.