Establishing a Scholarship
May I select the student I wish to receive my scholarship?
You may direct a gift to a particular student's tuition, however paying tuition is not considered a charitable gift.
There is a way for you to be involved in the selection of scholarship recipient based on objective application criteria.
By establishing an endowed scholarship, you will be provided with an option of participating on the scholarship committee which will select eligible students.
How can I name a scholarship?
Due to drastic recent tuition increases -- more than 100 percent in the last few years --students need more tuition support than ever.
Assistance helps them focus on their studies and reduces the number of outside jobs they work, which can have a negative impact on graduation rates. Many students without scholarships work at least two jobs, if not three or more.
To attract more scholarships, the College of Business encourages alumni and friends to name these funds. Given students’ needs, the minimum to endow a named scholarship fund is $25,000 -- however you may “adopt a student” by naming an annual current fund scholarship with a minimum donation of $5,000.
May I pay my donation over a period of time?
Yes, pledged gifts are gratefully accepted and the University will make it easy by sending you pledge reminders at your request. Two- to three-year pledges are encouraged, and up to five years are allowed for gifts of $25,000 or more.
How will I know that my donation will be used specifically for scholarships?
In order to encourage as many scholarships as possible, and because student need is so great, 100 percent of your non-endowed gift will go to support students.
For endowed scholarships, the University attempts to keep administrative costs as low as possible and currently only charges a two percent fee annually for administrative costs such as IRS reporting, audits and other costs associated with investing and managing an endowment.
Scholarship gift agreements between the donor and University ensure that donations are used specifically for the stated purpose.
Will I find out who received the scholarship I provide?
Yes, if you would like this information, provided your donation is at the minimum level required to establish a named fund (see above).
While some donors prefer to remain anonymous, and we work hard to ensure this for those who do, we encourage donors to let us publicize their identities to inspire others. Donors who identify themselves also have the opportunity to learn about the beneficiaries of their generosity.
The University has scholarship and donor relations offices that work with scholarship recipients to assist them in personally acknowledging donors.
Also, the University and several colleges have launched annual scholarship dinners where recipients and donors might meet and mingle.
How to Give
For ways you can help the College of Business offer its outstanding educational programs to as many qualified students as possible, visit Support the College: How to Give