...and I don't doubt that's the plan (for now). What happens when and if they bring in more than the annual scholarships costs? What happens to the surplus? Does it go towards the general athletic endowment, or does it go to pay of capital projects/debt/etc.? The thing is they've given themselves a lot of flexibility here, and restricted such from donors somewhat.

I also think they're missing the boat on not continuing to encourage giving to current scholarship endowments, even if split between general fund and endowment (but given full annual credit for both). Those endowments are important for future scholarship costs as well.