This award was endowed by the late Edward C. Truman, a 1940 graduate of Drake University. The Center for the Humanities administers this award and confers it annually upon a third-year student who has demonstrated exceptional achievement in the humanities. Candidates for the award need not be majoring in the humanities; however, they must be nominated in writing by a current member of the humanities faculty. The recipient is selected from the pool of nominees by a vote of the members of the Humanities Center Board. The student selected to receive the award is recognized during the University's Spring Convocation. The student receiving the Truman Award currently receives a certificate and a cash award.

Letters of nomination should be addressed to the Director of the Center. Letters should discuss the student's academic work and specify the distinctive character of his or her understanding of the Humanities. Nominees will be notified of their nominations by the board. Upon receipt of notification of his or her nomination, the candidates shall submit a letter of application to the Board. The Board will make its selection based on the letters of nomination and the students' applications.