For a number of years, the engineering students at UNB have paid $50 per year to the Engineering Endowment Fund (EEF). This money is intended to fund projects that will directly contribute to student life at UNB. Half of the money collected per year goes into a trust fund, and the other half is distributed over the fall and winter terms of each year to appropriate projects. Some example projects are computers for department labs, equipment for labs, technical tours, and the UNB Solar Car Team.

The EEF Committee consists of the student-elected Chair, the Dean of Engineering, faculty advisors, and a student from each department. Each term, a deadline is set for EEF Proposals. These are reviewed, and a representative from the interested group or society gives a five minute presentation about their project to the EEF Committee. Five minutes is then allotted for a questioning period.

The Committee votes on the projects that it wishes to fund and determines the amount of money that will be given to that project. The group or society is contacted, and a list of funded projects is posted throughout Head Hall, as well as in The Pillar.