When someone thinks about setting up a scholarship endowment, it’s often in the memory of someone who has died. When it comes to setting up a scholarship endowment, there are different ways that it can be approached. If a person is thinking of making a college scholarship endowment, there’s several different types of things that can be considered, but it’s always good to think about the causes which were dear to the person’s heart whose name was on the endowment.
Activity – The first type of endowment is usually the person’s activity in college. Whether it’s something like marching band or a sport that the person participated in, it’s often an endowment that is going to go to someone who has a similar activity in mind when they go to that college.
Illness – The second type of endowment that someone considers when they are setting up a scholarship endowment is one that has to do with illness. For example, there are people who set up the endowment for someone who died while they were in college or before they got to college due to an illness like cancer.
Career – The third kind of endowment that is thought about when it comes to setting up a scholarship endowment is based on the career path of the person who died. A good example was the memorial scholarship that was set up in the name of Fred Rogers for those students that are going to be pursuing careers in the area of children’s media.
When you are setting up a scholarship endowment, along with the things above you have to think about a couple of other things that have to do with an endowment.
Amount – One of the things that you need to consider when it comes to setting up a scholarship endowment is how much the endowment is going to be for.
School – Another thing that you want to think about when you are setting up a scholarship endowment is possibly the school that the endowment is going to be for, although this isn’t always the case.
These are the things that you should consider when setting up a scholarship endowment. As you can see, there are plenty of considerations that you have to think about when you start to set up a scholarship endowment. These are going to help you to make the right decisions that should be made.