The Medill Centennial Undergraduate Endowed Scholarship and Medill Centennial Graduate Endowed Scholarship Funds are permanently endowed funds, and their investment and expenditure shall be in accordance with Northwestern’s endowment policies and practices. These endowed funds will last in perpetuity, unless each do not reach their minimum funding level by a specified date. In that case, each fund will instead be used on an expendable basis for the same purpose.