How can I create a scholarship? I would like to create a scholarship for high school students from a certain school or county, with a financial need. I am thinking about two $500 scholarships per year. Who sorts through the apps for qualified candidates? Who presents the money? Who ensures it is spent on edication related expenses? Anyone have any ideas?
I've never had enough money to consider this action myself but I now imagine that it is likely to involve lawyers. By this I mean that it can resemble anything that you are willing to designate (and pay for). If you want to be in control then you can be in control. If you'd like to pass this control to another then you may. Set up the parameters and let that puppy off the leash. Nice thought, Jack
My union started a scholarship years back in the name of one of our members who died suddenly. As I remember it, it was fairly simple thing, and we were given the option of choosing the winner ourselves, letting a committee pick one according to our criteria, or a committee using their criteria.
I have been the recipient and coordinator of a few high school scholarships over the yrs. Just call the local high school you want to offer the scholarship to with your criteria to win the scholarship. Interviews (can be arranged at the high school), Essay's, etc. You will probably need to write a bio on yourself and the mission statement/purpose of the scholarship. As far as dispursing the money, well hey! that's up to you too! It's your scholarship! Typically we recommend up on proof of College admissions to transfer the money to the student's college account instead of a check. Colleges can handle this without problems. Then the student can just pay his/her fees for books etc right out of the account. Make sure you keep you calender clear on graduation day too as scholarship rewards are presented at graduation with a certificate (you provide that too). Dress up as parents love to take pictures. Hope this helps.
