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09/04/2019

Wanting to start a Memorial Scholarship?

QUESTION
Wanting to start a Memorial Scholarship?
I want to start a scholarship in the memory of my mother. How difficult is this And how do I get started

ANSWER
I am very sorry for your loss.

You’ll first need an idea of how much you will give out per year, and to who.
Will the scholarship be based on GPA, essays, interviews, test scores, minority status, choice of major… the possibilities are endless.

Many people set up scholarship funds with money that is left over from the deceased person’s estate. If you already have the money, it is only a matter of contacting the school of your choice and speaking with the right person.

If you do not yet have the money, you will have to find a way to raise a considerable amount each year. Online crowd sourcing has become pretty popular, and can be a good way to raise money in a pinch, but it will probably not work long term.
If you have the means, some sort of fundraising party can be a fun way to generate interest in your cause.

Just a few ideas… obviously its a lot to think about before just jumping in.