SCHOLARSHIP f.a.q.

Q:How much does it cost to get started?
A:You can establish a scholarship fund with a minimum donation of $2,000. The fund is not endowed until it reaches $10,000. Anyone can donate funds in their name. Over time, you can make additional donations toward your fund.

Q: When can we issue our first award?
A: Once the fund balance reaches $10,000, the Foundation will match that balance with an additional $2,000. You may name the scholarship/grant and award the first scholarship under the Foundation’s annual scholarship cycle according to the GEDF Restricted Fund Policy. Scholarships are paid from the interest generated on the $12,000 balance.

Q: How do we establish the award criteria?
A: The Foundation will assist you in developing your award criteria by offering you a questionnaire. You will need to determine the following:
*Name of the award
*Amount of the annual award
*For a scholarship-type of degree program, level of student (GPA or Specific Major/Minor) and any restrictions (geographical, gender, diversity or university-based)

Q: Who determines the award winners?
A: The Foundation has a Scholarship/Grant Selection Committee chaired by a member of the GEDF Board. The committee consists of ten volunteers, who have worked in some educational capacity. Their charge is to review each application and rank applicants accordingly

Gary Community School Corporation