Establishing a Scholarship

One of the primary goals of our Educational Foundation is to provide and administer scholarship support.  By making a gift for scholarships, you can help someone achieve the dream of a college education. 

We are committed to helping all students succeed regardless of their financial circumstances.  

Scholarships also help the college attract top-achieving students, raising the college’s academic profile and creating a vibrant learning environment that benefits everyone.

Setting Up a Scholarship

You can establish a Foundation scholarship in your name or in honor or memory of someone important to you.  Some donors work with the Foundation to choose an appropriate name that is not affiliated with an individual (e.g., New Beginnings Scholarship).

Types of Scholarship Funds

The minimum gift depends on whether you want to create an endowed scholarship, which will support students in perpetuity, or make current-use gifts that immediately and directly are awarded to students.

Type of Fund Minimum Investment 
Endowed Scholarship $25,000 fulfilled within 5 years

The amount of the scholarship awarded from the endowment will vary depending on the amount of the gift, the investment rate of return, the spending rate, and tuition costs.  The current policy is to award 3.5% of the 3-year average of the market value of the fund.

Annual Scholarship $1,000 annually, with a commitment to fund for 3 years

Designate a Scholarship

There are many ways to tailor your scholarship to reach the students you most want to help.  The Foundation staff will consult with you regarding the criteria and offer input on our greatest needs. The following are some examples:

  • Financial need
  • Academic achievement
  • Full-time or part-time
  • Students from a particular area (e.g. Frederick County) or high school (e.g., James Wood High School)
  • Your company’s employees or dependents
  • A particular field (ex. nursing, engineering, cybersecurity, business)

Other Types of Scholarships

Dual Enrollment: Last year, the Foundation awarded more than $10,000 in scholarship funds  to students who are enrolled in college courses for  credit while still in high school.   With a gift of $150, an academically capable high school student with financial need can earn college credit for approved courses.  A dual enrollment scholarship is also a great way to support your local high school and the college at the same time.

Recent Graduates:  Some donors have established a scholarship for recent graduates who are continuing their education at a 4-year college or university. For example, we have a scholarship for a student transferring to UVA and another scholarship for a student pursuing a career in education.

Workforce Training:  Our region depends on a skilled workforce, and offers an impressive array of programs leading to a business or industry credential in high demand areas such as CDL, electrical, HVAC, heavy equipment operator, and plumbing.  Some donors have established scholarships for students who are enrolled in a program through Workforce Solutions.

Donate to an Existing Scholarship Fund

Gifts of any size are welcome and may be directed to any existing Foundation scholarship fund.  We have a general scholarship fund as well as a fund for each county in our service region.  If you don’t know the exact name of the scholarship, that’s OK; just make a note with your intention, and we will contact you with any questions.

There are many ways to make a donation today to support a scholarship:

Contact us to get started or for more information.

Beverly Steele