Endowed Scholarships

The principal amount you invest continues permanently while the earned interest is drawn each year to fund a scholarship. And you will have an opportunity to meet the scholarship recipient and to support them on their academic journey if you choose.

Giving Options

• $25,000+ funds a need-based scholarship in your name.
• $50,000+ funds a need-based scholarship in your name with the option to designate a preference or qualifier for the type of student who will receive it.
• $100,000+ funds a need- or merit-based scholarship in your name with the option to designate a preference or qualifier for the type of student who will receive it. You may also request that a specific department select the scholarship recipient in consultation with financial aid.

FUNDING OPTIONS

There are three ways to fund an endowed scholarship. A lump sum gift to Hope College for the entire scholarship amount is not the only option. 

• Outright gift for the full amount
• Pledge for the full amount paid over 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 Pledging the full amount paid over five years
For a $25,000 pledge: Make a gift of $6,000 per year for five years – $5,000 to the endowment and $1,000 to be used immediately for a student scholarship. When the endowment portion of your contribution reaches $25,000 at the end of five years, it will fund a $1,000 scholarship every year indefinitely. 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 Making a bequest from your estate
Committing to include a Hope scholarship in your estate plans at age 65 or later gives you the option of making an additional yearly gift that can be used immediately to help a student pay for their Hope education. For a $50,000 scholarship, for example, you could make a yearly gift of at least $2,000 which 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 without having to wait until your passing.

The options for creating an endowed scholarship in your name are almost endless. A Hope 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.