subject: Scholarships Foundation [print this page] Scholarships foundation is the best philanthropic way to fund needy students. It helps focus on helping young and deserving people as well as promotes education. The main intention of these foundations is to provide financial assistance to the students who meet the specified criteria so that they can pay their tuitions fees and meet other expenses like books and others. The criteria to receive individual scholarships depend on various factors like the field of education, specific geographic areas and the institution in which the individual wants to study.
Anyone who is interested to set up foundation for scholarships should keep in mind few points. If you are that person, the first thing that you should decide is what is the purpose of your funding, what would you like to sponsor and cover, how much money can you give and what will be the name of your foundation. The next step will be to set the eligibility criteria of your scholarship program. This can be of different types but since this is your foundation, you can choose the one that you find fit. You can fix it for students who excel in particular field, for people of certain age group, for students with typical likings or hobbies and choose from many more options.
Once decided, you will have to create the documents for scholarships foundation, which is called trust documents. This must include every detail regarding the scholarships that are going to be sponsored by you. Mention the eligibility criteria, selection process, award money and any other condition related to the scholarship program. Publicize your scholarship program so that there is large number of applications.
You must also decide beforehand that whether you will give the scholarship to the winning student directly or to the institute. This is because if you give the fund directly to the student, you will have to collect the receipts and find out how the money is spent. If you have started scholarships foundation, make sure that you comply with the rules and regulations of the state and the country so that your foundation carries on the philanthropic work uninterrupted.
