Establishing a Scholarship
By establishing or contributing to a scholarship, donors create new pathways for student achievement. At Embry-Riddle, funding a scholarship is a simple process that begins with two basic types: current use or term scholarships and endowed scholarships.
When establishing a current use or term scholarship, you make a gift every year to fund the scholarship. Typically, in any given year, all of the funds are spent to make awards to deserving students, based upon criteria that you and the university establish when setting up the fund. Once the awards are made, the fund must be replenished each year to continue. Often, donors will pledge multiple years of support to ensure students benefit year after year.
With an endowed scholarship, you contribute or pledge a minimum required amount to an endowed fund that is invested according to university policy. A portion of the interest earned annually from that investment is spent each year in support of the scholarship, with the principal left intact. By never spending that principal, an endowed fund provides ongoing, permanent funding for the benefit of Embry-Riddle students.
Another benefit? Assuming the fund earns more on average than the spending rate each year, the amount available for scholarship awards will grow every year!
Make a Difference for Generations of Students
For more information about our matching program, contact us.