CREATING A NAMED FUND AT SCHOOLCRAFT COLLEGE
A NAMED RESTRICTED SCHOLARSHIP OR PROGRAM FUND
A minimum commitment of $2,500, as a one-time gift or payable over three years. The funds need to be given to the Schoolcraft College Foundation prior to any scholarship award. Awards are distributed annually until the funds are exhausted.
A NAMED ENDOWED SCHOLARSHIP OR PROGRAM FUND
A named endowed fund (or endowment fund) requires a minimum of $25,000. This can be done through a one-time gift of $25,000 or a pledge over three to five years. Income on the investment will be divided so that a percentage, as determined by the Foundation’s Board of Governors, is used to award scholarships or support a program. Consequently, the fund amount available for distribution is expected to grow and be protected against inflation over time.
ADMINISTRATION OF SCHOLARSHIPS
- The Schoolcraft College Foundation works with the college’s Financial Aid office to award scholarships. This process includes an online application and verification of criteria.
- Donors are notified of scholarship recipients at the end of the academic year in which they received their award.
For information on setting up a named scholarship or named fund, please contact:
Schoolcraft College Foundation
18600 Haggerty Road • Livonia, MI 48152-2696
734.462.4455 or firstname.lastname@example.org