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?

• Is this to be a term fund with all contributions and earnings to be distributed to students?
• An initial contribution of $5,000 required to establish a term fund.
• Is it to be an endowed fund? The payout from endowments is determined annually by the Board of Directors.
• An initial contribution of $10,000 is required to establish an endowment.

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

• 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?
• Scholarship or grant renewal – What are the particular requirements (such as a set grade point average) necessary to renew the scholarship or grant in case of multiple year awards?

Process: Who do you want to be involved in selecting recipients for the scholarship, award or grant?

• Foundation office?
• Program director of a specific academic discipline?
• Combination of both?

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.