The Pathway to Student Success
Thank you for your interest in establishing a Scholarship Fund here at Henry Ford College.
Henry Ford College attracts gifted 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 via a scholarship that will ensure that deserving, talented students are able to expand their knowledge.
The pass-through 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, and you can name the scholarship and establish the selection criteria. The scholarship is administered by the HFC Foundation and a fund agreement outlining the details of the scholarship is provided to insure 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/something important to you.
The beginning and future principal will remain intact in perpetuity. Your gift is invested, earnings from the invested funds (typically 3-5% based on the invented guidelines of HFC) yield an annual award used for the purpose of 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 scholarship is administered by the HFC Foundation and a fund agreement outlining the details of the scholarship is provided to insure that all parties are clear on how the gift is to be administered.
To create a scholarship you should consider the following:
- Type: What type of scholarship will this be? Will this be an Annual Scholarship (funded each year, $500 minimum investment) or Endowed Scholarship (minimum $10,000 investment)?
- 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 have to 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 his/her academic achievement, regardless if there is financial need or not?. Must the student be enrolled in a program specific, 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 and/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.
The Henry Ford Foundation will provide the donor 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 throughout the year.
Scholarship awards are distributed at the start of the academic school year, (fall semester) and you may have an opportunity to meet the recipient(s) of your scholarship at our annual scholarship breakfast.
Oure investors may also receive periodic invitations to attend special programs and/or events hosted by the Foundation.