Creating A Scholarship, Award or Grant
Creating a scholarship, award or grant impacts more than just the student recipients. Memorial scholarships can have a lasting impact on a much wider audience.

For example - A hero's life inspires art and more
The compelling story behind the Marc Anderson Fallen Soldier Memorial Scholarship at St. Petersburg College. View this video narrated by SPC instructor, and Anderson family friend, Ken Chapman.

The following areas suggest items to consider when establishing a scholarship, award or grant through the St. Petersburg College Foundation, Inc.

Questions to help guide your decision:

Type: Will this be a scholarship, honor award or grant?

• Scholarships are based on merit (academic), achievement (arts, athletics, etc.) and may or may not require financial need.
• Awards are monetary gifts based on merit (academics) and/or achievement (arts, athletics, etc.) usually given to graduating students who demonstrate outstanding performance at St. Petersburg College.
• Grants are given to students who demonstrate a need for financial assistance and may or may not contain additional merit and/or achievement-based criteria.
  

Naming: What name(s) will be used to title the scholarship, honor award or grant?

• Many bear the name(s) of the donor(s).
• Some are named for a person the donor wishes to honor or memorialize.

Purpose: Whom will the scholarship, award or grant serve?

• Is it for full-time or part-time students? Freshman, sophomore, junior or senior students?
• Is it for a particular discipline or program of study? Or for a specific professional or career goal?
• Is it for tuition only? Or should it include funding for books and/or other bona fide college expenses?
  

Funding Plan: What is the desired funding plan?

• How many scholarships, honor awards or grants do you wish to make each year?
• Is your gift sufficient in size to provide the necessary income to accomplish your purpose?
• Is it to be a term fund with all contributions and earnings to be immediately distributed to students?
• Is it to be an endowed fund, which will annually provide 100 percent of its earnings for distribution to students?
• How large a principal will be required to establish it in perpetuity? (For example, $10,000 is the current amount now needed to endow a scholarship which will generate annual scholarship support in perpetuity based on the earnings of the fund).  

Criteria: What set of criteria do you wish to use in selecting recipients for the scholarship, award or grant?

• Merit based – Are the students’ academic records (GPA – grade point average) and/or achievements (in visual arts, athletics, music, etc.) of primary considerations?
• Need based – Is financial need the primary consideration?
• Combination – Should merit and financial need both be considered?
• Other – Should interviews or essays be provided by the applicants?
• Scholarship or grant renewal – What are the particular requirements (such as a set grade point average) necessary to renew the scholarship or grant?

Process: Which person(s) do you wish to be involved in selecting recipients for the scholarship, award or grant?

• College financial assistance officer?
• Foundation officer?
• Program director of a specific academic discipline?
• Donor and/or donor’s family?
• Combination of two or more of the above?

All scholarships, honor awards and grants established within the St. Petersburg College Foundation, Inc. must be in compliance with all laws, policies, regulations, rules and procedures incumbent upon St. Petersburg College.

Return to Scholarships.