Can I select scholarship recipients directly?
No. The selection process allows donors to participate and make recommendations regarding scholarship awards. However, a donor is not allowed to maintain a level of control where they have the ability to direct scholarships to specific individuals. When establishing a scholarship fund, we encourage our donors to allow our scholarship committees to determine recipients. Our scholarship committees are comprised of individuals with extensive knowledge about college admissions, financial aid, academic coursework and other relevant topics to ensure the appropriate scholarship candidates are matched to each scholarship fund.
Can I place specific eligibility requirements and preferences for my scholarship?
Yes. When establishing a scholarship fund, a donor has the opportunity to establish certain preferences that determine what students will be eligible for the scholarship. Common scholarship preferences include attendance at a particular high school, enrollment at a designated college, a specific field of study, as well as academic performance and financial need. However, requirements and preferences may not be so specific and narrow that only a very limited group of individuals, such as family members, are eligible.
What students are eligible for educational scholarships?
Student eligibility is primarily based upon how the donor elects to establish their scholarship fund. Any individual planning on attending a post-secondary educational institution or vocational program is potentially eligible for a scholarship. This includes traditional high-school and college students or non-traditional individuals furthering their education in a college or university setting including two-year programs. This also includes anyone advancing their education through a vocational or tech school to obtain a degree or certificate of completion in a specific field. However, a scholarship fund through the Foundation may not be created to assist with private tuition costs for secondary or earlier-level education.
Why not donate directly to a college or university?
While every donor’s motivations are different, there are many benefits to establishing a scholarship fund with the Foundation instead of directly supporting a specific college or university. The primary benefit is our focus on local students attending Knox County schools or living in the Knox County area. We have long-standing relationships with the schools and guidance counselors to help guide students through the application process. During high school award ceremonies, all donor scholarship funds are announced along with a narrative describing the fund’s history. If they elect, donors or their representatives may speak at the ceremony and present the award to the student directly.
How do I know the student used the grant for educational purposes?
All of our scholarship awards are distributed directly to the education institution, not the student. The award is accompanied with a letter explaining what the scholarship may, and may not, be applied towards. Per our written requirements, scholarship funds must first be applied towards tuition, then to room and board if provided by the school. If there are excess funds, the scholarship can also be applied towards certain academic related expenses such as lab fees and books, if paid directly to the education institution (for example, a university bookstore). If a student does not enroll for a full academic year or a portion of the scholarship is unspent, all remaining scholarship proceeds are directed to be returned to the Foundation. These unused proceeds are then deposited back into the donor’s scholarship fund.