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09/04/2019

how does my company go about starting a scholarship?

QUESTION
how does my company go about starting a scholarship?

ANSWER
A little can go a long way. So maybe you cannot afford to pay someone’s tuition but you can afford to offer a book or monetary scholarship in yours or someone you know’s name. You can give any amount away in the form of caishers check, bond, book check, gift card (which can be obtained at most Universities) or even a personal check, although not suggested.

Here’s how you do it:

1. Determine how you will award the scholarship. This means you need to set the criteria for juding the applications submitted. You might want to judge based on GPA, essay response, volunteerism or extra curricular activities etc.

2. Create your application, instructions, deadlines, and package to send to schools and/or organizations of your choice.

3. Contact the schools and organizations notifying them of your scholarship program.

4. Select a winner or winners and award the scholarship. If you would like to write off you scholarship be sure to obtain necessary tax documentation from the institution or recipient so that you may write off you scholarship donation on your taxes.