How to Create a Scholarship Fund
Step I: Donate in honor or in memory of a special someone or a favorite group.
Step II: Let your friends and family know about the scholarship and how to donate. Some families also hold fundraisers to allow money to accrue faster.
Step III: Once you reach $5000 by June 1, a $500 scholarship will be awarded starting the next year and every other year after that. Example: A family donating $5000 by June 1, 2024, would have their first $500 scholarship awarded May 2025.
Step IV: Write a brief biography and include scholarship criteria.
Step V: Determine if you want to increase the scholarship amount.
Scholarship Fund Total | Amount of Scholarship | When awarded |
|---|---|---|
$5,000 | $500 | Every other Year |
$10,000 | $500 | Every Year |
$15,000 | $750 | Every Year |
$20,000 | $1000 | Every Year |
$25,000 | $1250 | Every Year |
$30,000 | $1500 | Every Year |
$35,000 | $1750 | Every Year |
$40,000 | $2000 | Every Year |
$50,000 | $2500 | Every Year or |
As always, the Board determines scholarship awards annually based on investment returns. Thankfully, AFF has never decreased the scholarship amount; however, for full disclosure, families should know this amount could be less in the future. The Scholarship Committee awards scholarships based on an application and interview.