The scholarship was established through the Southeast Missouri University Foundation in 1998 with a gift from the Missouri V.F.W. Post 3838 in memory of Pruitt. He was V.F.W. Post 3838's only commander to hold this position at the time of his death.

Scholarships recipients must hold sophomore or higher student status and be either a U.S. military veteran who was honorably discharged or the son or daughter of a U.S. military veteran who was honorably discharged. Applicants must have achieved an overall 2.5 grade point average and a 3.0 grade point average in their major, and be a student from Southeast Missouri State University's 24-county primary service area. The level of achievement must be maintained to be eligible to reapply for the scholarship along with substantiating continuing financial need. Recipients are selected by the Scholarship Committee.