Establishing a Scholarship
Establishing a scholarship with the Foundation for Seminole State College will create an everlasting memory of your generosity. Your contribution can help bright students — who may not otherwise have the opportunity to go to college — acquire the knowledge and education they deserve.
There are three steps to creating a scholarship:
Endowed and Non-Endowed Scholarships
An endowed scholarship will be awarded in perpetuity.
Endowed scholarships are established with an initial gift of $1,000, followed by a gift of $3,000 a year for three years. Once the fund reaches a minimum of $10,000, it is invested, and a scholarship is awarded based on the earnings. This type of scholarship lasts indefinitely, and an average annual award is $1,000.
A non-endowed scholarship is a finite award but can be upgraded to endowed at any time if desired.
This type of scholarship is established with a minimum gift of $1,000 a year and a minimum three-year commitment. Scholarships may be awarded after the first donation. Non-endowed scholarships can be created for timely events, departmental projects such as disaster relief scholarships or study abroad sponsorships, or for specific fields of study.
Memorandum of Understanding
An MOU is a legal (but non-binding) document that clarifies all aspects of your scholarship, including award criteria and a plan of payment.
After the MOU
After the MOU has been signed by the Foundation Executive Director and the scholarship donor, the document becomes a contract. The scholarship award process may begin once the appropriate funding has been established.
If you are interested in establishing a scholarship, please e-mail Jessica Brien, Scholarship and Proposal Coordinator, or call her at 407.708.2382.
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