FAQs

What’s an Endowed Scholarship?

An endowed scholarship is a gift that keeps on giving. With your contribution of $25,000 or more (spread over as many as five years), you can establish a fund that is invested each year with Ithaca College's other endowment funds through agreements with selected investment advisers.

Each year, the College will calculate the total earnings of the endowed fund from appreciation, interest, and dividends, and make available an amount between 6 and 9 percent (based on a three-year rolling average market value of the fund) to be awarded as scholarships. The remaining earnings will then be added to the fund principal, ensuring that your scholarship continues growing over time, producing scholarship aid in perpetuity.

Awards are first made after the minimum endowment level of $25,000 has been reached, although special arrangements can be made to award the scholarship prior to reaching the minimum level.

Under the current investment strategy, a $25,000 endowed scholarship produces annual scholarship aid in excess of $1,200, which can be a tremendous help for students with financial need.

Are There Other Types of Scholarships?

An annual scholarship may be established with a contribution of $2,000 a year for five years. Scholarship aid will be awarded each year that the scholarship is funded.

How Are the Award Criteria Chosen?

The College's development staff and the Office of Financial Aid will work with you to develop eligibility criteria in broad terms, primarily to ensure that scholarship funds will be awardable each year.

Will I Know Who Receives My Scholarship?

The students who receive your scholarship will be asked to write to you, unless you state otherwise. You'll also be sent information about each of the award winners annually, along with a status report on the value of your scholarship fund.