Apply for a scholarship
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We succeed when our students succeed
Thank you for your interest in establishing a scholarship fund here at Henry Ford College.
Henry Ford College attracts students from all backgrounds. They bring with them a wide range of experiences and viewpoints that make our College one of the best in the State of Michigan. You have the opportunity to invest in the future by supporting the HFC Foundation through a scholarship that will ensure that deserving, talented students are able to expand their knowledge.
The scholarship is an annual gift to the HFC Foundation that passes through to the selected recipient’s student account. The scholarship is at least a $500 award each year. By establishing an annual scholarship, you can name the scholarship and establish the selection criteria.
The HFC Foundation administers the scholarship. A fund agreement outlining the details of the scholarship is provided to ensure that all parties are clear on how the gift is to be administered.
An endowed scholarship is a permanent opportunity to honor or memorialize someone or something important to you. The beginning and future principal will remain intact. Your gift will be invested. Earnings from the invested funds (typically 3-5% based on the investment guidelines of HFC) yield an annual award used for the scholarship.
The minimum to establish an endowed scholarship is $10,000, which can be gifted over a one- to three-year period. Similar to the Annual Scholarship, you can name the endowed scholarship and determine the selection criteria. The HFC Foundation administers the scholarship, and a fund agreement outlining the details of the scholarship is provided to ensure that all parties are clear on how the gift is to be administered.
The first scholarship will be distributed in the academic year following the initial investment.
To create a scholarship, you should consider the following:
- Type: What type of scholarship do you want to create? Will it be an Annual Scholarship (funded each year, $500 minimum investment) or Endowed Scholarship (minimum $10,000 investment; funds remain in perpetuity)?
- Name: Naming the fund is very important. You can give it a general name, your name, or name the scholarship in tribute to a loved one or special individual.
- Purpose: You will decide for what purpose(s) the money may be distributed and spent. Would you like to earmark the money for tuition, fees, books, etc.?
- Who may benefit: Will the money be awarded to a student who can demonstrate financial need? Will it be granted to a student who can demonstrate outstanding performance in their academic achievement, regardless if there is financial need? Must the student be enrolled in a specific program? Must they be a full-time student or part-time student?
- Funding: Determine the amount of money you would like to donate. How will you make sequent payments to fund the scholarship each year?
- Criteria: Additional criteria to be considered may include that a student be a graduate of a particular high school, be involved with a particular activity, volunteer, or prepare a short essay for consideration.
- Agreement: A Scholarship Agreement or Memorandum of Understanding (MOU) will be drafted, outlining the type, number, dollar amount, and criteria of your scholarship. This document is a binding agreement outlining how the scholarship will be administered.
Please be aware that the more detailed and specific criteria you designate, the harder it can be to find an eligible student recipient. We recommend you consider what is the most important to you, and leave other criteria open, so that more students will be eligible to apply for the scholarship you create.
The Henry Ford Foundation will provide you with an annual Endowment or Scholarship report. The report will highlight information from the scholarship recipient(s), award amounts or the amount in the principal endowment account, if applicable.
Once a scholarship is established, it is included in our annual list of scholarships featured in various publications, and on our website throughout the year.
Scholarship awards are distributed at the start of the academic school year (fall semester). You may have an opportunity to meet the recipient(s) of your scholarship at our annual scholarship breakfast.
Our investors may also receive periodic invitations to attend special programs or events hosted by the Foundation.