The William H. Gray Jr. Scholarship provides need-based financial aid to outstanding students from ethnic backgrounds that are traditionally underrepresented in higher education. Gray Scholars are chosen on the basis of potential for achievement as demonstrated by academic strength, leadership ability, and strong moral character. The financial aid package for Gray Scholars minimizes loan and job expectations over the course of four years. Renewal is subject to demonstrated service activity on or off campus.

The Gray Scholarship may be offered in combination with the Marshall Scholarship. Recipients must be United States citizens or permanent residents.