Anyone can give. Individuals, families and groups of friends have created endowed scholarships in the past.
A minimum gift of $25,000 with an initial gift of $10,000 is required to establish an endowed scholarship fund. This payment can be contributed in full at the outset or payable over three years. The principal of the fund is invested to produce income, and a scholarship award is given to a student based on established criteria established by the donor. The principal remains intact, allowing the endowment to last in perpetuity.
The major benefactor of a scholarship establishes the scholarship name. You may establish a scholarship in your own name or choose to name it for a friend, family member, organization, or a favorite faculty member.
You can aid in establishing the scholarship criteria by expressing your intentions for the award. The College will draft the scholarship criteria according to your specifications and present a Memorandum of Understanding (MOU) for your approval. The MOU will outline how the scholarship will be funded and awarded over time. The criteria may be based on:
Academics (e.g., academic major, grade point average, etc.)
Class (e.g., fourth professional year, first year student, etc.)
Region (e.g., New York)
Extracurricular activities (e.g., member of an athletics team or fraternal organization)
Scholarships for current students are published here (LINK) and in the College catalog. Students apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA). Typically, the Office of Financial Aid carefully reviews each application and selects the most deserving recipient(s) based on the established criteria and financial need.
No. IRS regulations prohibit donors from selecting the student who will benefit from their scholarship. The Financial Aid Office makes these determinations based on the scholarship criteria.
Each fall you will receive a Donor Impact report. This report will include:
• Recipient's name, class year, academic major, and residency
• Market-Value Fund Balance
You will also be invited to attend our Scholarship Dinners which are held annually in Albany and Vermont. These events offer a wonderful opportunity for donors to meet scholarship recipients and learn about their students’ interests and aspirations.
The Family Educational Rights and Privacy Act (FERPA) allows students to keep their personal information private. If a student agrees to release their information, you will learn their name, class year, academic major, and residency. This information will be provided in your Donor Impact Report.
We also encourage students to write thank you notes and to share information about their backgrounds, life goals, and personal interests with their donors.
For more information about endowing a scholarship, contact the Office of Institutional Advancement at firstname.lastname@example.org.