The Alumni Association awards scholarships to Baker students each year from the Alumni Scholarship Fund, an endowed fund at the University. The Alumni Association seeks to recognize outstanding Baker students from the College of Arts and Sciences, School of Nursing, and School of Professional and Graduate Studies.

Each year the amount awarded and number of scholarships given can change based on the amount of money dispersed from the endowment. For the 2007-2008 school year, five $1,000 scholarships were awarded in May of 2007. All full time students are eligible to apply for the scholarship, and applications can be picked up from the Financial Aid office on the Baldwin City campus. The Alumni Board of Directors elects a committee to determine the recipients of the scholarship based on the applications. The applications are due during the spring semester and the recipients are recognized at the annual Alumni Awards Luncheon during Alumni Weekend in May.