Q&A on Endowed Scholarships
What is an endowed scholarship?
By definition, an endowed scholarship is one in which the principal remains intact and only the interest is awarded each year. Once established, an endowed scholarship is managed by Seton Hill University. An endowed scholarship creates a permanent funding source that will grow over time and provide support for deserving students today and in the future.
At what level is a scholarship endowed?
A scholarship becomes an endowed fund and is awarded annually when the principal reaches $10,000. You may endow a scholarship with a single gift of stock, securities or cash or you may build the fund with smaller gifts over time. You may also contribute to existing scholarships which will help to build the current scholarship endowment and increase the amount awarded annually to deserving young men and women. Your contributions are prudently invested and managed by the University.
What happens once the scholarship is endowed?
Once the scholarship or fund is endowed, a student will be awarded with a scholarship valued at five percent of the fund. The principal will be preserved to grow over time so that the scholarship will be awarded in perpetuity. As a donor of an endowed scholarship, you will receive a detailed annual report of your fund along with information about the student recipient.
Should I create an endowed scholarship?
An endowed scholarship fund is a perfect match for the alumni donor who is interested in making a difference in the lives of students. The financial resources provided by an endowed scholarship often become a deciding factor for students to choose Seton Hill University.
How is the endowed scholarship named?
Some donors have created scholarships in their own names, while others have honored family members, beloved professors, colleagues or friends, through the creation of a scholarship fund.
How can I learn more about endowed scholarships?
To learn more about how you can endow a named scholarship or contribute to an existing scholarship, please be in touch with Lisa Carino, Executive Director of External Affairs, 724-838-2409 or by email, firstname.lastname@example.org.