When you create a scholarship for students attending Greensboro College you provide financial aid to future generations of students who will be able to attend Greensboro College because of your values and vision.
Two Questions
In the process of creating a scholarship you have an opportunity to write the rules by which your scholarship will be awarded. The scholarship is created and your specifications are recorded in a document called an "Endowment Agreement." In our drafting of that Endowment Agreement two basic questions need to be considered.
- Will students qualify for your scholarship:
- based on significant financial need,
- based on noteworthy academic performance,
- based on some combination of these?
- Will you allow the financial aid policies and procedures of Greensboro College to select who should receive your scholarship (based on need or merit as you have specified) or will you include certain additional specifications of your own?
More Questions
If you include specifications of your own concerning who would qualify to receive your scholarship you might consider some of the following common stipulations as well as any other considerations that are important to you.
- High moral character
- Satisfactory progress toward graduation
- Full time or part time students or both
- Traditional students or adult students or both
- Students in particular subject areas of study
It is important to remember that an endowed scholarship is a permanent fund that will assist students over many years. In the distant future, students' needs may have changed significantly in ways we cannot anticipate. Therefore some flexibility is important in preserving and advancing the substance your intentions without causing the form of the language to interfere.
You may have other ideas concerning what type of student should qualify for your scholarship. Please feel free to ask any questions that come to mind about creating and administering scholarships for students at Greensboro College.
Three Principles
- Simplicity is a virtue. (The College must administer your scholarship over the years.)
- Clarity is very important. (We won't always be here to interpret and explain what you meant)
- Flexibility is very important. (Values endure. Times change.)
Put it in Writing
A draft of your scholarship might be edited and revised many times before you approve the final wording. Editing, revising and editing and revising again (and again!) are a common part of the process of expressing your thoughts and feelings on paper.
At your convenience we can discuss your interests in a scholarship and we can provide a draft document for you to review, edit, approve or reject.
Such a conversation can be no more than exploratory, can remain confidential at your request and is intended to help you understand the process of creating a scholarship and of placing the assets you select into the fund.
We look forward to visiting with you soon!
On behalf of future generations of Greensboro College students we thank you for considering such a gift.
Office of Planned Giving
Greensboro College
815 West Market Street
Greensboro, North Carolina 27401-1875
336-272-7102, extension 223
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