 In exchange, the Synod had an obligation to keep the college solvent with a $60,000 endowment, while the Board maintained total control over the college property.In order to fund the new endowment, a new scholarship plan was developed, allowing a family to purchase tuition for 1 son for $50, tuition for all of the family sons for $100, and a perpetual and inheritable scholarship for $200.The measure, which passed the Board by a vote of 12 to 4, was able to raise the $60,000 quickly.