Endowed Scholarships

You may establish the scholarship in your family’s name or in the name of another person whom you would like to honor.

Endowed scholarships are gifts that keep on giving, providing funding that lasts for the lifetime of the college.

The principal amount you invest and earned interest continue to fund the scholarship over the years. And the best part: You will have an opportunity to meet the scholarship recipient and support them on their academic journey.

SCHOLARSHIP Options

Covers a portion of total tuition

• $25,000+ funds a need-based scholarship.
• $50,000+ funds a need-based scholarship with the option to designate preferred criteria for whom will receive it.*
• $100,000+ funds a need- or merit-based scholarship with the option to designate preferred criteria for whom will receive it.* You may also request that a specific department assign it.

Covers the net tuition cost with Hope College bearing any unfunded portion

• $500,000 funds a need- or merit-based scholarship with an option to designate preferred criteria for whom will receive it,* and covers a student’s tuition expenses.
  

Covers the entire tuition cost and leaves no expense for Hope College to cover

• $800,000 funds a need- or merit-based scholarship with an option to designate preferred criteria for whom will receive it,* and covers a student’s tuition expenses while alleviating financial pressure on Hope College.

*Any awarding restrictions must be approved by the executive director of philanthropy services and prospect development.

FUNDING OPTIONS

A lump sum gift to Hope College for the entire scholarship amount is not the only option for funding an endowed scholarship. You can fund a scholarship in three ways:

• Outright gift for the full amount (including cash, stock, IRA distribution or a Donor Advised Fund)
• Pledge for the full amount gifted in installments for up to five years
• Bequest from your estate plan activated at the time of your passing

A student can begin receiving an endowed scholarship and you can begin a relationship with them before your pledge is completely fulfilled. Here’s how it could work:

Example #1 Activating your scholarship with an annual gift
You can also make a gift to be used while you complete your pledge to endow a scholarship. In this way, you can create a yearly scholarship (with a pledge of any amount from $25,000 or above) while you build up an endowment to support the scholarship permanently.

Example #2 Documenting a bequest as part of your estate planning
Including an endowed scholarship in your estate plans at age 65 or older enables you to make an additional yearly gift that can be used immediately to help a student finance their Hope College education. A yearly gift would be awarded to a student as a scholarship in your name until your bequest activates. In this way, you can develop a relationship with the scholarship recipient and see the impact of your giving during your lifetime.

The options for creating an endowed scholarship are almost endless. A Hope College philanthropic advisor can walk you through the process. We are happy to answer your questions or discuss the options that best fit your situation. Contact us at 616.395.7775 or give@hope.edu.