Making Education Attainable
Thousands of students rely heavily, if not entirely, on financial aid. Creating a scholarship fund is a unique and ideal way to forever change lives. By creating a scholarship fund, you are able to honor your legacy or that of a loved one in a very special way. And, not only are you able to determine who you honor with a named scholarship fund, you also may decide the type of student you want to support. The College Heights Foundation is very sensitive to the goals of the donor and prides itself on being the Guardian of Trusts to carry out your intended wishes. Through your scholarship gift you have the opportunity to support areas dear to you. For instance, you can specify so that your gift goes to help a student from a particular region or who is pursuing a certain academic discipline. If you are ready to create a scholarship fund, then please read some of the details below or contact our office at 270-745-4597 for more information.
Types of Scholarship Funds
There are several different types of scholarship funds you may establish and the right type of fund depends on your wishes. The type of scholarship fund you create is strictly about what you want to achieve with your gift. Please review the various types of scholarship funds (endowed, non-endowed, building funds, or one-time memorial funds) to determine the best type of fund for your individual goals. Whichever type of fund you choose, please know that you are making a difference in the lives of students and scholarships are one of the University’s highest priorities to ensure that educational dreams can become a reality.
Costs of a WKU Education
The 2014 costs of an annual Western Kentucky University education are currently:
In-state Tuition-- $9,140
Meal Plan-- $2,100
Facing this burden without some financial assistance is simply not feasible for most students. With your scholarship support, the College Heights Foundation can help make that load bearable.
When describing an endowment, the key word is everlasting. When you create an endowed fund, your donation is invested, allowing the principal to remain intact and grow over time. The original gift is never spent, but rather a portion of the investment return is used to provide ongoing permanent support. Your individual endowed fund becomes a part of the University’s overall permanent endowment, yet still maintains a separate identity. Not only is an endowment a beautiful way to carry on the legacy of a loved one or mentor, but it is also provides a self-sustaining source of funding that never ends. Endowed funds truly allow you to support WKU in perpetuity. Because the original gift is left untouched, your legacy is infinite. Just as the buildings on campus are named after great leaders of WKU, so too your endowment—your name—will hold just as much importance and be as impactful as they are. Through an endowment you have the unique opportunity to reach beyond the limits of time—to forever make a positive difference.
For more information on how an endowed fund works, please read the College Heights Foundation Scholarship Endowment Informational Sheet.
Create a Scholarship
The College Heights Foundation wants to make sure your gift is used in a way that fully honors your wishes. One of the ways to guarantee this is through a Fund Agreement. This agreement specifies between the donor and the Foundation exactly the type, intent and amount of the gift. Also, to ensure all the specified criteria is followed when choosing scholarship recipients, then donors are encouraged to create Scholarship Guidelines. These guidelines are followed by the awarding committees to provide the donor peace of mind that their scholarship will be awarded according to their wishes in perpetuity.
Many donors often choose to create a scholarship fund or add to a scholarship fund that has already been established by including the College Heights Foundation as a portion of their estate plan. There are many different vehicles that can be utilized to ultimately benefit the scholarship fund, but a common occurrence is to include the fund as part of their will. Provisions in the will can be included that identify a specific amount or a percentage of the overall estate. Please click here to review sample bequest language.
Ways of Giving
There are various ways of giving to the College Heights Foundation to create a scholarship fund. The Foundation wants to make sure you are able to donate in a way that best suits your needs, therefore we accept scholarship contributions through a variety of methods. Please review the link to determine the most beneficial way for you to make a gift that will provide educational opportunities for a countless number of students.
For answers to any other questions you may have please visit our FAQ. Also please feel free to contact us for answers to more specific questions regarding your interest in establishing a scholarship fund.
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