Establish a Scholarship

An increasing amount of the students at Scott Community College receive some form of financial aid. Scholarships are vital for students to bridge the gap between the resources and their needs in order for them to see things once invisible and to do things once impossible through education.

Scholarships have been established by philanthropic individuals, companies and service organizations to benefit our students. These scholarships can take on many different forms and can be designated to one of the many programs at Scott Community College.

First, you must select the type of scholarship you want to establish:

• Endowed Scholarship - established to honor the memory or celebrates the life of an individual or a corporation desiring to form a partnership with the college to provide a permanent funding base from which scholarships can be awarded. Once the account principal has reached an agreed upon level, annual awards are made from the interest earned. 
  
  Donors can set up an endowed scholarship for a minimum $10,000 that will allow the gift to live in perpetuity. When an endowment gift is received, it is invested by the Foundation and only a portion of the income (generally 4 to 5%) is used each year to provide assistance to one or more students.
  
  
• An Annual Scholarship - established by donors who wish to contribute a yearly amount (a minimum $500 per year) with that amount awarded in full during the same year as donated.
  
  
• Combined Annual/Endowed Scholarship - established so that scholarships can be awarded immediately while an endowed account is created over a pledge/payment period of several years.
  
  
• SCCF Board Scholarship – Contributions can be made in any amount to this scholarship fund. 
  Established by the Scott Community College Foundation Board this general scholarship fund assures access to educational opportunities for students with financial need.

 

Next, once you make a commitment to give to a scholarship you will work directly with the Foundation Director to establish the criteria for your scholarship and set the awarding parameters. You will receive helpful guidance to make this process quick and easy.  

Then, you will complete the paperwork for the files and your scholarship will be established.  Your scholarship will be considered for the appropriate awarding cycle.  Students will be encouraged to apply for your scholarship and the scholarship applications will be reviewed by the Scholarship Review Committee for rating and selection.

Finally, following the awarding of your scholarship you will receive a thank you letter from the student(s) selected and have an opportunity to meet them in person at the annual awards banquet.