The Ed and Dee Wallo Endowed Scholarship was established in 1996 by Dee and the Wallo family as the Ed Wallo Annual Scholarship, in loving memory of their father Ed, a 1951 University of Portland graduate.  

In 2010 the funds became an endowment and the award renamed The Ed Wallo Endowed Scholarship.  In 2017, the family renamed the scholarship to include and honor Ed’s wife, Dee, a 1946 University of Portland Nursing School graduate.  In 2016-17, for the first time, the scholarship was given in honor of Dee to a nursing student.  Dee was in attendance in 2017 at the annual institutional award luncheon and met the first recipient. 

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For a few years, the endowment funded one scholarship per-year rotating between the criteria honoring Dee and Ed.. On odd years the scholarship was awarded, in honor of Ed, to a strong academic student-athlete, who has demonstrated financial aid beyond need.  On even years, the award was given, to honor Dee, to a strong academic undergraduate nursing student, ideally with a plan to go into surgical nursing.

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Beginning in the academic year 2020-21, the endowment grew to the level to fund two scholarships per year, thereby allowing the awarding of one honoring Dee and one honoring Ed each year.