Creating your own named scholarship is a great way to help bridge the financial gap for deserving students. You can create either an annual scholarship or an endowed scholarship.
Annual Scholarship ($25,000+)
Annual scholarships provide substantial and immediate financial assistance to one or more students. All funds are utilized during the academic year, and no principal is maintained. With a five-year annual commitment of $5,000+ a year, donors will be able to designate their named scholarship to a specific college, school or program and support a student based on outlined criteria.
Unrestricted Endowed Scholarship ($50,000+)
Named scholarships at this level are unrestricted and will have the broadest impact, benefiting all LMU students with financial need at the discretion of the Office of Financial Aid. Once the scholarship is fully funded, it will allow for an annual distribution of approximately $2,500.
Designated Endowed Scholarship ($100,000+)
At the endowed level, a scholarship fund becomes a legacy, as the principal is preserved in a permanent fund and the scholarship award comes from the interest. The minimum endowment level can be reached with an outright gift or through pledge payments made over a period of up to five years.
At these funding levels, named scholarships can be designated to a particular college, school or unit based on the donor's interest. Based on the endowment value the distribution can support one or more students and cover a portion to all of a students' financial need.
- A scholarship endowment of $100,000 allows for an annual distribution of approximately $5,000.
- A scholarship endowment of $500,000 allows for an annual distribution of approximately $25,000.
- A scholarship endowment of $750,000 allows for an annual distribution of approximately $37,500.
- A scholarship endowment of $1,000,000 allows for an annual distribution of approximately $50,000.
For further information please contact Adam Tingen at 310.338.7360 or Adam.Tingen@lmu.edu.