Setting up an educational scholarship or Endowment fund can be a meaningful way to give back to your community or to honour a loved one.
You can start a scholarship fund with specific criteria that are most important to you or were important for your loved one. One of the first things that you will be able to select is the name of the scholarship. You can decide on the duration, how the funds will be distributed, what qualifications applicants must meet in order to qualify, the application and selection process and so on. It can be a one-time gift or an annual fund, in which you provide a fixed amount for a certain amount of years.
Another option would be to create an endowment fund, which is permanent. Simply put, we will not be able to use the principal balance for operations, only the interest generated by the capital investments. The main purpose of such funds is to ensure the long-term financial health of the university and are highly appreciated.